- A report by the Central Bank of Egypt revealed a decline in the deficit in net foreign assets by the end of April 2024 to reach the equivalent of 36.07 billion pounds, compared to the equivalent of 65.3 billion pounds at the end of last March.
- The Central Bank announced that reserve money (MO) had reached 1.614 trillion pounds at the end of last April, compared to 1.683 trillion pounds at the end of March 2024.
- Reserve money (MO) consists of cash circulating outside the vaults of the central bank and bank deposits in its local currency. Reserve money (MO) is used as one of the intermediate operational objectives of the central bank’s monetary policy in managing local liquidity.
- The report added that cash in circulation outside the Central Bank’s treasury rose to 1.233 trillion pounds, compared to 1.200 trillion pounds at the end of March 2024, and bank deposits in local currency recorded 381.2 billion pounds, compared to 482.8 billion pounds.
