CAIRO: Egyptian local cash flow increased by 70 billion EGP (U.S. $11.7 billion). It reached 988 billion EGP (U.S $165.7 billion) last March. The rate increased by 7.7 percent from July 2010 to March 2011. The Egyptian central bank mentioned in its monthly report that local cash increasing reflects on the money supply by 26.8 billion EGP (U.S. $4.5 billion) and near cash by 43.8 billion EGP (U.S. $7.3). Near cash increasing is a result from increasing non-current deposits with local currency by 22.1 billion EGP (U.S. $3.7) and increasing deposits with foreign currencies by 21.7 billion EGP (U.S. $3.6). Bank credit facilities assets increased by 4 billion EGP (U.S $670.8 million), while the private business sector took 65.4 percent last March. The report states the industry sector has been at the forefront of economic activity representing 32.6 percent of market activity followed by the services sector by 27.3 percent and trade sector by 11.5 percent and finally agriculture sector by 1.8 percent. Other than the Central bank, the financial status of other banks rose by 52.9 billion EGP (U.S. $8.8 billion) by 14.3 percent at the end of last march. Arabic here
