Egypt’s Central Bank limits dollar deposits to defend the pound
In line with the recent limitations, the individuals and companies will not be allowed to deposit over $10,000 per day or $50,000 per month in Egypt’s banks, with media reports adding that the rate is expected to remain unchanged at this level until March.
As of the time of press, the Egyptian pound was trading at around 7.63 to the dollar while black market rates were said to be around 7.8 to 7.9 against the dollar.
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