Table ( 19 ) : Developments in Selected Monetary Aggregates 
( September 2005)
  1 Month % Change 3 Month % Change 12 Month % Change Full Year Average  % Change 1/
Net Foreign Assets (LE terms) 6.5 28.4 96.0 84.8
CBE NFA  5.4 31.5 383.8 235.0
CBE NIR  1.8 8.8 32.8 17.9
Banks NFA 2/  7.5 25.8 27.9 51.3
Net Foreign Assets (US dollar terms) 6.6 29.1 112.1 94.5
CBE NFA  5.5 32.2 423.7 256.7
CBE NIR  1.9 9.3 43.8 24.1
Banks NFA 2/  7.6 26.4 38.5 58.0
Net Domestic Assets -1.0 -0.5 3.3 6.4
Net Claims on Government and GASC -1.5 -1.7 15.8 21.0
Claims on Public Companies 0.4 2.2 4.7 4.8
Claims on Private Sector 0.9 1.9 5.7 3.5
Total Liquidity (M2) 0.4 4.2 14.2 13.9
Money (M1) 2.3 11.4 23.9 16.6
Quasi Money 0.0 2.6 12.1 13.3
Source: Central Bank of Egypt. 
1/ Average year on year growth for twelve successive observations.
2/ Commercial, specialized, business and investment banks.
54760
-100
-100
-100
Source: Central Bank of Egypt.
1/ This concept neutralizes the impact of exchange rate movements on M2 by applying previous year’s prevailing exchange rate to current period foreign currency component in total liquidity.
2/ GDP / Total Liquidity (M2). 
* Reflects quarterly GDP real growth.