Cairo – Mubasher: Egypt's domestic liquidity rose by 0.73% month-on-month (MoM) to EGP 4.14 trillion in January 2020, versus EGP 4.11 trillion in December 2019, continuing its growth since freeing exchange rates in November 2016.

On an annual basis, domestic liquidity surged by 13.75% in January 2020, compared to its level in the same period of 2019 at EGP 3.64 trillion, according to data by the Central Bank of Egypt (CBE).

During the first month of 2020, Egypt's money supply jumped to EGP 987.282 billion from around EGP 968.459 billion in December 2019.

Meanwhile, foreign currency deposits decreased by 14% year-on-year to EGP 639.91 billion, compared with EGP 741.3 billion in January 2019, and EGP 655.086 billion in December 2019.

In January, the Egyptian pound increased against the US dollar, as the dollar neared an exchange rate of EGP 15.5.