All monetary aggregates ended the week of February 17, 2022 on a negative note. The overall money supply, “M4”, narrowed by LBP 1,959.73 billion on a weekly basis and by 2.68% on an annual basis to LBP 208,122 billion, notwithstanding the LBP 291 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 1,933.04 million week-on-week to LBP 53,163 billion on the back of some LBP 2,174 billion contraction in currency in circulation, which outweighed the LBP 241 billion increase in demand deposits. Local currency term deposits, “M2”, also dropped by LBP 2,047.24 billion on a weekly basis yet rose by 4.10% year-on-year to settle at LBP 73,597 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) receded by LBP 114.20 billion (0.56%) to LBP 20,433 billion during the week of February 17, with deposits denominated in foreign currencies (“M3-M2”) sinking by LBP 203.81 billion (0.17%) to LBP 120,451 billion.