Exchange rate floating attracts $80B to banks in Egypt

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Sun, 29 Apr 2018 - 10:03 GMT

FILE- Central Bank of Egypt

FILE- Central Bank of Egypt

CAIRO - 29 April 2018: Deputy Governor of the Central Bank of Egypt Gamal Negm said Sunday cash flow to banks in Egypt has increased since the exchange rate liberation, referring to around $80 billion.

In statements to MENA ahead of the Union of Arab Banks conference on financial technology (Fintech) creations, Negm asserted that the current interest rate is attractive to investment in Egypt.

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