Money supply increases in July

Money supply growth accelerates in July: M2 money supply grew by 12.1% y-o-y in July, compared to a y-o-y 11.85% growth in June, Reuters reported, citing CBE data. The M2 gauge stood at EGP 3.885 tn at the end of July, up from EGP 3.864 tn a month earlier. M2 measures liquid assets such as cash, savings deposits and money market securities.