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English news

06-Feb-2017

EGP strengthens slightly at Sunday’s interbank market on improved liquidity

On Sunday’s interbank market, the dollar was traded at cEGP18.36-18.38 buying and a range of EGP18.52-18.54 selling, compared with cEGP18.62-18.64 for buying and EGP18.75-18.77 for selling on Thursday, Central Bank of Egypt (CBE) data showed. Improved liquidity in the interbank market, especially at public banks, drove the appreciation. Banks reportedly traded the dollar at a range of EGP18.52, down 23 piasters. CBE has requested banks to focus on financing goods at the ports, and sources report that they have all been covered last week. (CBE, Al Mal) 

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