2016-11-03

Circular dated November 3, 2016 regarding the liberalization of exchange rates

In an effort to stabilize the Egyptian economy and reduce inflation, the Central Bank of Egypt decided to implement several measures to correct the foreign currency exchange policy. These measures included floating the Egyptian pound and giving Egyptian banks more flexibility in pricing the purchase and sale of foreign currencies. The decision was made in alignment with the government's structural reform program aimed at enhancing public finances.

Egypt

Central Bank of Egypt

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