The Central Bank of Egypt (CBE) has revealed that local currency deposits with banks working in the Egyptian market increased by EGP 104.191bn during March 2021. This meant that local currency deposits reached about EGP 3.863trn, compared to the EGP 3.759trn recorded in February 2021. In a recent report, the CBE said that demand deposits in local currency amounted to EGP 562.552bn in March 2021, compared to about EGP 526.481bn in February 2021. The volume of local currency time deposits and savings certificates with banks jumped by EGP 68.12bn in March 2021. The CBE explained that the public sector’s share of demand deposits in local currency reached about EGP 32.018bn in March 2021.

Source: Daily News Egypt May 03, 2021 16:52 UTC