EGYPT · ECONOMY
Key Facts
- What happened Egypt’s M2 broad money reached 15.969 trillion Egyptian pounds (EGP), about US$296 billion, in September 2026.
- The change That is EGP 304 billion (about US$5.6 billion) above August, a monthly rise of 1.9%.
- The counterweight Net foreign assets, the system’s foreign money after debts, fell to US$27.0 billion from US$31.1 billion.
- What is next October inflation data is expected around 10 November 2026.
Egypt’s stock of money, the cash and bank deposits held by households and companies, grew again in September, according to data from the Central Bank of Egypt (CBE). The broad measure, called M2 or domestic liquidity, stood at EGP 15.969 trillion (about US$296 billion) at the end of the month.
For US readers, the figure shows how much Egyptian pound cash is chasing goods and assets just as the central bank fights a weak currency. It arrives one week after the CBE raised its key interest rates, as our report on the Egypt rate hike to 20% explains.
What Happened
The central bank’s data show domestic liquidity of EGP 15.969 trillion at the end of September 2026, against EGP 15.665 trillion (about US$290 billion) at the end of August. The monthly increase of EGP 304 billion (about US$5.6 billion) equals 1.9%.
Money supply is the total amount of money in an economy, and M2 counts the broadest version. It adds cash and everyday bank accounts to savings and time deposits, so it moves slowly and shows how much money banks are holding for the public.
Egyptian pound amounts in this report are converted at about EGP 54 per US dollar, the central bank’s rate on 5 November. Dollar values are rounded.
Our own estimate puts M2 at roughly 17% above its level a year earlier. That compares the new figure with the central bank’s end-September 2025 total of about EGP 13.6 trillion (about US$252 billion at today’s rate), so treat the percentage as approximate.
Where the Growth Came From
The narrow measure of money, which counts cash and current accounts only, rose to EGP 4.606 trillion (about US$85 billion) from EGP 4.534 trillion (about US$84 billion) in August. Within it, cash held outside the banking system slipped to EGP 1.606 trillion (about US$30 billion) from EGP 1.618 trillion.
Demand deposits in Egyptian pounds, which people can withdraw at any time, climbed to about EGP 3.0 trillion (about US$56 billion) from EGP 2.915 trillion (about US$54 billion). Total pound deposits at banks reached EGP 10.841 trillion (about US$201 billion), up from EGP 10.605 trillion (about US$196 billion) a month earlier.
The pattern shows slightly more money in bank accounts and slightly less in wallets. The central bank lifted its deposit rate by one percentage point on 29 October, after the September data period ended.
The Dollar Side of the Banks
The same central bank release shows the banking sector’s net foreign assets at US$27.014 billion at the end of September, down from US$31.143 billion at the end of August. Net foreign assets are the foreign-currency assets of Egypt’s banking system, including the central bank, minus its foreign liabilities.
The fall is about US$4.1 billion in one month. Separately, the pound hit a record low of about EGP 56 per US dollar in market trading on Monday 26 October, before easing to about EGP 54 on 5 November.
What It Means for You
If you hold Egyptian pound bonds or invest in Egypt through US funds, fast money growth can feed inflation and weigh on the currency. Every EGP 100 is worth about US$1.85 at EGP 54 per dollar, so a weaker pound shrinks the dollar value of returns.
Travelers in Egypt face prices set in pounds, so a falling currency usually helps visitors paying in dollars. Companies that import goods or pay local salaries should watch inflation, because strong money growth tends to push costs up.
What Is Not Known
The central bank has not said how much of the September increase came from lending to the government and how much from lending to companies. It is also unclear what drove the fall in net foreign assets, because the central bank’s own net reserves reached a record US$57.35 billion in September.
The year-on-year growth rate of M2 for September is not stated in the figures we reviewed. Our 17% estimate depends on a rounded year-earlier base.
What to Watch Next
Egypt’s inflation figure for October is expected around 10 November 2026. The central bank’s October foreign reserves figure is also expected soon, after a record US$57.35 billion in September.
Together, the two releases will show whether the rate rise is slowing prices and steadying the pound. Our report on the pound’s slide past 53 per dollar gives the earlier background.
More: Egypt news in English, every day from The Rio Times.
Frequently Asked Questions
What Is Egypt’s M2 Money Supply?
M2 is the broad measure of money: cash, everyday accounts and savings deposits. At the end of September 2026 it stood at EGP 15.969 trillion (about US$296 billion).
How Much Did Egypt’s Money Supply Rise in September?
It rose by EGP 304 billion (about US$5.6 billion), or 1.9%, from EGP 15.665 trillion (about US$290 billion) at the end of August. Our estimate puts the rise at roughly 17% over a year.
Why Do Net Foreign Assets Matter?
They measure the foreign-currency assets of Egypt’s banking system minus its foreign debts. They fell to US$27.0 billion from US$31.1 billion in September.
When Is Egypt’s Next Inflation Report?
October inflation is expected around 10 November 2026. It will show whether the rate rise on 29 October is starting to cool prices.
Sources: Central Bank of Egypt, monetary and banking-sector data for September 2026, published 5 November 2026; Central Bank of Egypt, exchange rate, 5 November 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief