All monetary aggregates ended the week of July 6, 2023 on a positive note. The overall money supply, “M4”, widened by LBP 23,601.47 billion on a weekly basis to LBP 1,245.39 trillion, noting that the non-banking sector’s Treasury bills portfolio increased by LBP 18 billion 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”, soared by LBP 23,140.43 billion week-on-week to LBP 135,052 billion on the back of some LBP 16,645 billion rise in currency in circulation coupled with the LBP 6,495 billion increase in demand deposits. Local currency term deposits, “M2”, also rose by LBP 23,799.69 billion on a weekly basis to settle at LBP 151,890 billion.

Consequently, private sector term and saving deposits denominated in LBP (“M2-M1”) soared by LBP 659.26 billion (4.07%) to LBP 16,838 billion during the week of July 6, while deposits denominated in foreign currencies (“M3-M2”) sank by LBP 216.71 billion (0.02%) to LBP 1,073.70 trillion.