Cairo – Mubasher: Egypt’s domestic liquidity surged by 21% year-on-year to EGP 3.2 trillion in December 2017 from EGP 2.64 trillion in the same period a year earlier, according to a statement by the Central Bank of Egypt (CBE) on Wednesday.
On a monthly basis, liquidity rose by 1.9% in December 2017 from EGP 3.14 trillion in November.
The CBE aims at cutting liquidity to curb inflation through raising interest rates.
The CBE last announced that Egypt’s foreign reserves rose to $37.019 billion at the end of December from $36.723 billion the previous month.
