Data from the Central Bank of Egypt (CBE) showed continued high levels of domestic liquidity in the Egyptian banking market, which started with the liberalization of the exchange market and the floating of the Egyptian pound against the dollar in early November of 2016.
The domestic liquidity rose by the end of April to reach 3.762 trillion pounds against 3.724 trillion pounds, an increase of about 0.038 trillion pounds, an increase of about 1.02 percent. According to Central Bank of Egypt data, and on an annualized basis, the domestic liquidity increased by 11.33% compared to 3.379 trillion pounds in April last year.
As per the data of the same source, the volume of money supply during the month of April this year rose to 881.296 billion pounds, compared to about 862.588 billion pounds in March, an increase of about 81.708 billion pounds, about 2.18 percent.
The reserves of foreign exchange reserves stood at 44.218 billion dollars at the end of April 2019, compared with 44.112 billion dollars at the end of March 2019.
Source: (Al-Arabiya.net, Edited)
