Governor of the Central Bank of Egypt (CBE) Tarek Amer is holding the first meeting of the CBE’s Board of Directors after its new formation on Thursday.
The market is awaiting any indications to clarifythe CBE’s vision and its future actions regarding several files that require quick decisions after the changes that occurred in its formation and leaders.
At the top of these issues is the maximum limit of deposits in foreign exchange, which is now $10,000 daily and $50,000 monthly. The market is in anticipation over whether this rule will be canceled or amended.
The market is also awaiting any indicators from the CBE regarding the trend of local interest rates after the sudden movements taken by some banks in the last period.
The market also awaits the CBE to cover the remaining temporary credit facilitations they granted their customers working in the importation sector, after it covered 25% of these facilitations on 12 November. There are high expectations that the CBE will cover another 25% of these facilitations in a few days, and cover the remaining percentages consecutively on the short term.
The CBE reduced the dollar against the pound by 20 piasters in November, putting the dollar at the CBE at EGP 7.8301, with EGP 7.78 for buying and EGP 7.8301 for selling in banks.
