All monetary aggregates ended the week of March 23, 2023 on a positive note. The overall money supply, “M4”, widened by LBP 2,408.11 billion on a weekly basis to LBP 1,222.26 trillion, notwithstanding the LBP 129 billion decrease in the non-banking sector’s Treasury bills portfolio during the concerned week. It is worth noting that as of the beginning February 2023, the official exchange rate was adjusted to LBP 15,000 per US Dollar.

In parallel, Lebanese-Pound denominated deposits and currency in circulation, “M1”, rose by LBP 2,329.96 billion week-on-week to LBP 90,599 billion on the back of some LBP 5,384 billion increase in demand deposits which outweighed the LBP 3,054 billion drop in currency in circulation. Local currency term deposits, “M2”, also rose by LBP 2,297.09 billion on a weekly basis to settle at LBP 108,258 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) narrowed by LBP 32.88 billion (0.19%) to LBP 17,659 billion during the week of March 23, while deposits denominated in foreign currencies (“M3-M2”) increased by LBP 240.00 billion (0.02%) to LBP 1,094.64 trillion.