All monetary aggregates ended the week of November 24, 2022 on a negative note. The overall money supply, “M4”, narrowed by LBP 354.74 billion on a weekly basis yet rose by 11.17% on an annual basis to LBP 235,845 billion, notwithstanding the LBP 68 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”, dropped by LBP 471.17 million week-on-week to LBP 86,136 billion on the back of some LBP 333 billion contraction in demand deposits, coupled with the LBP 138 billion decrease in currency in circulation. Local currency term deposits, “M2”, also fell by LBP 423.74 billion on a weekly basis yet increased by 37.81% year-on-year to settle at LBP 104,058 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) rose by LBP 47.42 billion (0.27%) to LBP 17,923 billion during the week of November 24, with deposits denominated in foreign currencies (“M3-M2”) remaining almost flat at LBP 113,478 billion.