< Arab Finance - News - CBE says $57 bln cash flow into banks in 8 months - al Akhbar
Count Down to relaunch



CBE says $57 bln cash flow into banks in 8 months - al Akhbar

CBE says $57 bln cash flow into banks in 8 months - al Akhbar

Cairo: Cash inflows into Egypt's banking system totalled more than $57 billion since Egypt floated its currency in November, Egypt's central bank governor told al Akhbar newspaper on Sunday.

Egypt floated the pound to help attract foreign capital as part of a three-year $12-billion International Monetary Fund loan.

Faced with accelerating inflation, Egypt's central bank on Thursday raised its key interest rates by 200 basis points for the second policy meeting in a row.

Egypt's central bank governor Tarek Amer told Egyptian newspaper al Akhbar the decision to raise rates would encourage dollar holders to exchange them for pounds.

Source: Reuters

#Related keywords

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
13.66
Change
-01.09
Hold

All rights reserved to Arab Finance 2020 ©

Back to top