The Central Bank of Egypt (CBE) has reported a significant increase in domestic liquidity within the banking sector, reaching EGP 10.097trn in April 2024. This represents a notable rise compared to the EGP 9.988trn recorded in March, marking an increase of EGP 109bn.
In a recent report, the CBE highlighted the following key points:
Money Supply
The total money supply in April 2024 amounted to EGP 2.485trn, up from EGP 2.467trn in March. This includes both currency in circulation within the banking system and outside it.
Currency in Circulation
The amount of currency in circulation outside the banking system reached EGP 1.155trn, showing growth from the previous EGP 1.118trn.
Non-Governmental Deposits in Local Currency
Non-governmental deposits denominated in local currency increased to EGP 6.505trn in April 2024, compared to EGP 6.247trn in December 2023. This reflects a rise of EGP 258bn.
Demand Deposits
Demand deposits in local currency totalled EGP 1.329trn, up from EGP 1.301trn. Among these deposits, the public business sector held EGP 72.087bn, the private sector held EGP 802.132bn, and the household sector held EGP 455.57bn.
Time Deposits and Savings Certificates
The volume of time deposits and savings certificates in local currency increased to approximately EGP 5.175trn, compared to EGP 4.946trn previously. The public business sector accounted for about EGP 89.213bn of these deposits, the private sector for EGP 307.397bn, and the household sector for EGP 4.779trn.
Non-Governmental Deposits in Foreign Currencies
The Central Bank reported an increase in non-governmental deposits denominated in foreign currencies. In April 2024, these deposits reached the equivalent of approximately EGP 2.436trn, up from the equivalent of EGP 1.561trn in the previous period—an increase of approximately EGP 875bn.
Foreign Currency Deposits
Demand deposits in foreign currencies amounted to the equivalent of EGP 609.780bn, while time deposits and savings certificates reached the equivalent of EGP 1.826trn in April 2024.
Sector Breakdown
The public business sector held the equivalent of EGP 29.535bn in demand deposits, the private business sector held EGP 405.45bn, and the household sector held EGP 174.89bn. Regarding time deposits and savings certificates in foreign currencies, the public business sector held the equivalent of EGP 113.75bn, the private sector held EGP 397.5bn, and the household sector held EGP 1.314trn.
