Cairo – Mubasher: The Central Bank of Egypt (CBE) reported that local liquidity rose by EGP 20.5 billion month-on-month in July 2017.
Total liquidity stood at EGP 2.94 trillion at the end of July 2017, versus EGP 2.92 trillion in June 2017, the CBE highlighted in its monthly bulletin.
The bank mentioned that money supply fell 1.5% to EGP 698.3 billion in July, compared to EGP 709.29 billion at the end of June.
Near money amounted to EGP 2.242 trillion at the end of July from EGP 2.210 trillion in June, according to the data.
The CBE aims at cutting local liquidity to control inflation through raising interest rates.
