By: Heba El-Kordy

Cairo – Mubasher: Total foreign-currency deposits at Egyptian banks rose on a monthly basis by EGP 6.4 billion ($368 million) in February, recording EGP 747.7 billion ($42.9 billion), versus EGP 741.3 billion ($42.6 billion) in January.

Year-on-year, foreign-currency deposits increased by 8.3%, versus EGP 689.8 billion at the end of February 2018, data by the Central Bank of Egypt (CBE) showed on Tuesday.

The CBE also posted that Egypt’s domestic liquidity rose slightly in February to EGP 3.675 trillion, versus EGP 3.64 trillion in January.

Meanwhile, domestic liquidity increased 11.5% year-on-year, versus EGP 3.29 trillion in February 2018.

The North African state’s money supply rose to EGP 840.5 billion in February, compared to EGP 832.4 billion in January, according to the CBE.

In March, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that the consumer price index (CPI) in the country rose 1.8% month-on-month to 304.2 points in February.

Last week, the CBE’s Monetary Policy Committee (MPC) decided in its meeting to keep current key interest rates unchanged in March at 16.75%, and 17.75% for overnight deposit rate and overnight lending rate, respectively.

Translated by: Mai Ezz El-Din