All monetary aggregates ended the week of May 21, 2020 on a positive note. The overall money supply, “M4”, soared by LBP 521.15 billion on a weekly basis, yet fell by 7.07% on an annual basis to LBP 206,089 billion, noting that the non-banking sector’s Treasury bills portfolio fell by LBP 174 billion during the concerned week.

In parallel, Lebanese-Pound denominated deposits and currency in circulation, “M1”, widened by LBP 1,061.50 billion week-on-week to LBP 24,130 billion on the back of some LBP 583 billion expansion in demand deposits, coupled with the LBP 478 billion increase in money in circulation. Local currency term deposits, “M2” also expanded by LBP 498.71 billion on a weekly basis yet plunged by 21.93% year-on-year to settle at LBP 58,208 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) sank by LBP 562.79 billion (1.62%) to LBP 34,078 billion during the week of May 21, while deposits denominated in foreign currencies (“M3-M2”) increased by LBP 196.65 billion (0.14%) to reach LBP 136,403 billion.