All monetary aggregates ended the week of January 27, 2022 on a negative note. The overall money supply, “M4”, narrowed by LBP 2,683.33 billion on a weekly basis and by 1.36% on an annual basis to LBP 209,552 billion, notwithstanding the LBP 88 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”, fell by LBP 2,546.63 million week-on-week to LBP 54,022 billion on the back of some LBP 2,344 billion contraction in currency in circulation, coupled with the LBP 203 billion drop in demand deposits. Local currency term deposits, “M2”, also plunged by LBP 2,644.04 billion on a weekly basis yet rose by 8.22% year-on-year to settle at LBP 74,750 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) receded by LBP 117.41 billion (0.56%) to LBP 20,727 billion during the week of January 27, with deposits denominated in foreign currencies (“M3-M2”) sinking by LBP 107.68 billion (0.09%) to LBP 120,941 billion.