Banks sold USD21bn to cover imports since pound float
Egyptian banks have provided USD21bn to cover import payments since the pound was floated on 3 November, said the Central Bank (CBE) sub-governor, Tarek Fayed, on Wednesday. “The banks have paid letters of credits and documentary collections worth cUSD14bn, and further opened letters of credits worth cUSD7bn,” Fayed added in a CBE statement.
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