All monetary aggregates ended the week of November 11, 2021 on a negative note. The overall money supply, “M4”, fell by LBP 697.46 billion on a weekly basis yet rose by 0.91% on an annual basis to LBP 211,605 billion, notwithstanding the LBP 20 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 388.89 million week-on-week to LBP 53,389 billion on the back of some LBP 321 billion contraction in demand deposits, coupled with the LBP 68 billion drop in currency in circulation. Local currency term deposits, “M2”, also fell by LBP 483.14 billion on a weekly basis yet rose by 17.29% year-on-year to settle at LBP 75,189 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) receded by LBP 94.25 billion (0.43%) to LBP 21,800 billion during the week of November 11, with deposits denominated in foreign currencies (“M3-M2”) sinking by LBP 234.59 billion (0.19%) to LBP 123,054 billion.