Egyptian banks have provided about $55.1 billion to fund trade since the country floated its currency in November last year, a central bank official told Reuters on Tuesday.
The banks were able to extend up to $40 billion in documents for collections (IDCs) and letters of credit, and open new letters of credit for up to $15.1 billion dollars, the source said.
Egypt’s currency float ‘boosts’ foreign investment, says bourse chiefForeign investors have bought a net 11 billion Egyptian pounds ($615.90 million) worth of shares since the country floated its currency last November, ... Economy
Egypt hikes fuel prices, second time since currency floatEgypt’s government on Thursday increased gasoline and diesel prices in the second fuel hike since a currency floatation and the latest cut in ... Economy
Foreign currency inflows into Egyptian banks at $17 bln since pound floatForeign currency inflows into the Egyptian banking system have reached about $17 billion since the Egyptian pound was floated in November, a central ... Economy
Egypt’s agricultural exports ripe for world markets after currency floatEgypt’s agricultural exporters are seeing a surge in demand and finding new foreign markets only months after the currency was floated, with ... Economy