CBE plans to re-open up to 24 FX bureaus this month
The Central Bank (CBE) plans in August to re-open between 22 and 24 FX bureaus which were shuttered for six-month to one-year on exchange market violations, according to CBE Deputy Governor for Supervision, Tarek Fayed. The move comes as FX markets have been stabilised and reserves have been shored up, reaching USD36bn in July. Around 27 bureaus saw their licences revoked by the CBE, Fayed said, adding that those will not be allowed come back to operation.
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