30 December 2012

Egypt: CBE Announce New Mechanism to Keep Up Foreign Currency Reserve

The Central Bank of Egypt (CBE) announced a new mechanism for periodical tenders to purchase and sell the dollar on the Egyptian market.

Governor of the Central Bank of Egypt (CBE) Farouq al-Oqda said the new measures will be applied as of today 30/12/2012 to keep up foreign currency reserve. He underlined commitment to meet all obligations and pay the installments of foreign debt.

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