Egypt: CBE Governor - Dollar to Be Provided to Importers of Strategic Commodities

Governor of the Central Bank of Egypt (CBE) Hesham Ramez said he would take soon new measures to support the Egyptian pound exchange rate against the US dollar in a bid to fight the dealings on the black market.

Ramez told "Akhbar El-Youm" that sufficient quantities of the dollar would be provided to the local banks to meet demands of businessmen and importers of strategic commodities.

The governor played little with some attempts, which target reemergence of the black market, saying the CBE is aware of these attempts and would render them a failure. He paid tribute to the performance of the Egyptian banks in spite of the adverse economic atmosphere which has affected the whole country.

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