CBE: Currency Issued Rose By EGP 20 Bln In 11 Months

The Central Bank of Egypt (CBE) said the volume of currency issued during the period from the beginning of July 2011 to the end of May 2012 rose by about EGP 20 billion (11.1%), registering EGP 199.8 billion at the end of last May, up from EGP 179.7 at the end of June 2011.

The volume of currency issued accounted for 12.73% of gross domestic product (GDP). The currency in circulation (outside CBE) registered about EGP 197 billion at the end of May 2011, compared to EGP 179 billion at the beginning of July, with an increase of 10%.

The local-currency liquidity reached EGP 1.067 trillion at the end of last May, registering the highest level ever in Egypt.