The Central Bank of Egypt (CBE) has announced an increase in domestic liquidity in the banking sector to EGP 7.737trn in January 2023, compared to EGP 7.402trn in December 2022, an increase of EGP 334.3bn.
The CBE revealed, in a report on Wednesday, that the money supply declined, to record EGP 1.669trn in January 2023, compared to EGP 1.739trn in December 2022.
According to the Central Bank, the volume of cash circulating outside the banking system recorded EGP 797.112bn in January 2023, compared to EGP 831.226bn in December 2022.
In the same context, the Central Bank revealed that the volume of non-governmental deposits in local currency in banks increased to EGP 5.501trn in January 2023, compared to about EGP 5.411trn in December 2022, an increase of EGP 89.5bn.
The CBE explained that deposits in local currency are divided into demand deposits, amounting to EGP 872.685bn in January, compared to EGP 908.395bn in December, and term deposits and savings certificates amounting to EGP 4.628trn compared to EGP 4.503trn.
It pointed out that the public business sector acquired EGP 78.386bn of demand deposits, the private sector EGP 557.959bn, the private sector EGP 237.463bn and the household sector EGP 4.279trn.
The Central Bank also revealed an increase in total non-governmental deposits in foreign currencies in banks to the equivalent of EGP 1.438trn in January 2023, compared to the equivalent of EGP 1.160trn in December 2022, an increase of EGP 278.9bn.
The CBE said that demand deposits in foreign currencies amounted to the equivalent of EGP 385.18bn in January 2023, compared to the equivalent of about EGP 309.862bn in last year, while the volume of term deposits and certificates of saving amounted to the equivalent of EGP 1.053trn.
According to the CBE, the volume of demand deposits in foreign currencies in the public business sector amounted to about EGP 26.449bn, in the private business sector the equivalent of EGP 251.370bn, and in the household sector the equivalent of EGP 107.495bn.
It added that the volume of term deposits and savings certificates in foreign currencies for the public business sector amounted to about EGP 72.420bn, private business sector deposits amounted to about EGP 229.325bn, and the household sector amounted to EGP 752.04bn.
