CBE
The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept on hold at 16.25 percent, 17.25 percent, and 16.75 percent, respectively.
The CBE attributed the surplus to the growing revenues of tourism, Suez Canal as well as petroleum and non-petroleum exports.
January 26 will be off instead of January 25, which falls on Wednesday.
The T-bills were offered in two installments, with the first valued at LE 13.5 billion with a 91-day term, and the second worth LE 21.5 billion with a 273-day term.
The Central Bank of Egypt (CBE) elaborated in a statement, that it paid about $1.5 billion in November, and $1 billion in December 2022.
This confirms the ability of the banking sector to cover pending currency requests for importers as soon as possible.
The T-bonds were offered in three installments, with the first valued at LE 1 billion with a 1.5-year term.
The T-bills were offered in two installments, with the first valued at LE 20.5 billion with a 182-day term.
The CBE said in a statement that it decided to restore the documentary collections system for imported goods.
“The bank must send account statements to customers every 3 months at most,” it added.
The CBE made the announcement in a circular sent to all banks operating in the local market on Sunday.
The CBE set an average rate of 5 percent (±2 percent) for the targeted inflation rates during the fourth quarter of 2026.
The discount rate was also raised to 16.75 percent.
The T-bills were offered in two installments, with the first valued at LE 5 billion with a 182-day term.
Most of the expectations of economists and investment banks point to the Central Bank's direction for a new hike by about 100 points to 200 points.
Addressing the third session of "People And Banks" conference, held today, he described the decision as good, as CBE is not responsible for backing such initiatives, but it is a must that the government offers backing to such sector.
The agreement may be completed within December 2022.
The T-bonds were offered in three installments, with the first valued at LE 6 billion with a 1.5-year term.
The T-bills were offered in two installments, with the first valued at LE 8 billion with a 91-day term.
Renowned Banker Hisham Ezz El Arab was nominated by The Commercial International Bank (CIB) Bank Board of Directors to be appointed as a non-executive chairman of the board of directors, after obtaining the approval Egypt’s Central Bank.
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