He added that this increase in quasi money due to an increase in non-current deposits in the local currency by 176 billion pounds at a rate of 7.9%, and a decrease in deposits in foreign currencies equivalent to 45.5 billion pounds at a rate of 6.4% .. As for the increase in the money supply came as a result of an increase in current deposits in the local currency by about 15.4 billion pounds, or 3.5%, and cash circulating outside the banking system increased by 14.5 billion pounds, at a rate of 3%.
The report indicated that the increase achieved in domestic liquidity during the period (July – October) of the fiscal year 2019 – 2020 came as a result of the rise in net domestic assets and the rise in net foreign assets with the banking system, as net foreign assets increased by 42.3 billion pounds, at a rate of 14.1%. As a result of the increase in net foreign assets at the central bank by the equivalent of 4.6 billion pounds, and the net foreign assets at the banks by 37.7 billion pounds.
He noted that the local assets of the banking system increased by 118.1 billion pounds, or 3.3% as a result of increasing the negative balance of the net budget items by about 103.3 billion pounds at a rate of 42.4%, and the increase in local credit by 221.4 billion pounds, at a rate of 5.8%.
And that domestic credit increased as a result of an increase in net liabilities from the government by 184.7 billion pounds, liabilities from the family sector by 35.5 billion pounds, from the private business sector by about 4.3 billion pounds, and a decrease in liabilities from the public business sector by 3.1 billion pounds.