All monetary aggregates ended the week of September 9, 2021 on a negative note. The overall money supply, “M4”, fell by LBP 213.48 billion on a weekly basis yet rose by 2.02% on an annual basis to LBP 212,584 billion, notwithstanding the LBP 169 billion increase in the non-banking sector’s Treasury bills portfolio during the concerned week.

In parallel, Lebanese-Pound denominated deposits and currency in circulation, “M1”, narrowed by LBP 215.98 million week-on-week to LBP 52,127 billion on the back of some LBP 402 billion contraction in demand deposits, which outweighed the LBP 186 billion expansion in currency in circulation. Local currency term deposits, “M2”, also dropped by LBP 412.68 billion on a weekly basis yet increased by 22.73% year-on-year to settle at LBP 74,798 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) receded by LBP 196.70 billion (0.86%) to LBP 22,671 billion during the week of September 9, while deposits denominated in foreign currencies (“M3-M2”) rose by LBP 29.80 billion (0.02%) to LBP 124,975 billion.