2017-11-28

A circular dated November 28, 2017 regarding amending the limits of banks’ currency positions

In a letter dated November 28, 2017, the author informs the Chairman of the Board of a bank in Egypt about a decision to revert to the previous limits on foreign currency imbalances for banks operating in the country. The new limits are set at 10% for individual currencies and 20% for the total surplus or deficit in foreign or local currencies, effective December 1, 2017. The letter also emphasizes the need for banks to comply with these limits at the end of each business day and provides additional instructions related to the management of currency positions.

Egypt

Central Bank of Egypt

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