The proceeds of buying the US dollar from holders by both National Bank of Egypt (NBE) and Banque Misr have reached USD2.5bn since the EGP free float on 3 November 2016. The two state-owned banks have nearly pumped the same amount to finance foreign trade transactions. NBE’s Chairman Hisham Okasha said that NBE has raised USD1.5bn since floatation announcement, adding that the bank has secured USD1.2bn to finance import of commodities. An official has estimated the proceeds of purchasing the dollar at Banqe Misr at USD1bn, adding that the lender has secured USD1.3bn to finance trade finance transactions. (Al Mal)