November 29, 2017 / 12:25 PM / 19 days ago

Egypt's M2 money supply up 40.48 pct year-on year in Oct - central bank

CAIRO, Nov 29 (Reuters) - Egypt’s M2 money supply was up 40.48 percent at the end of October from a year earlier, central bank data showed on Wednesday.

Money supply stood at 3.09 trillion Egyptian pounds ($173.91 billion), the bank said.

The growth rate of M2, which includes foreign currency deposits, has been inflated as a result of Egypt devaluing its currency in November 2016. ($1 = 17.7100 Egyptian pounds) (Reporting by Nadine Awadalla; Editing by Catherine Evans)

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