The Central Bank of Egypt (CBE) stated that the local liquidity rose by EGP 13.3 billion (1.2%), registering EGP 1.115 trillion at the end of August 2012, up from EGP 1.101 trillion at the end of last July. This increase is reflected on the volume of money supply as it increased by EGP 5.42 billion, registering EGP 283.8 billion at the end of last August, compared to EGP 278.3 billion at the end of last July. The volume of money supply increased because the currency in circulation outside the banking system rose by EGP 6.2 billion, registering EGP 202.5 billion at the end of last August, compared to EGP 196.3 billion at the end of last July. In addition, the local-currency current deposits climbed by EGP 796 million, registering EGP 81.2 billion at the end of last August, compared to EGP 82 billion at the end of last July. The quasi-money surged by EGP 7.9 billion, as it reached EGP 831.4 billion at the end of last August, compared to EGP 823.4 billion at the end of last July, thanks to the increase in the local-currency non-current deposits which rose by EGP 6.75 billion to reach EGP 643.8 billion from EGP 637.1 billion and the increase in the foreign-currency non-current deposits which increased by EGP 94 million to reach EGP 45.3 billion from EGP 45.2 billion. The local net assets surged to EGP 961.5 billion, compared to EGP 945.8 billion because of the increase in the domestic credit which rose to EGP 1.110 trillion and the net negative budget balances which grew to EGP 148.6 billion at the end of last August, compared to EGP 146 billion at the end of last July.
