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CBE pulls record EGP 1 trillion to curb inflation

This liquidity withdrawal is part of the CBE's open market operations to effectively regulate the money supply within the Egyptian banking system.

The Egyptian pound’s rate against the US dollar declined on Tuesday to 46.92 for selling and 46.79 for buying, its strongest point since 23 March.

Visa Platinum, Mastercard Platinum and Mastercard holders can now utilize up to LE 40,000, compared to the previous LE 12,500 limit.

In addition, the private sector increased its contribution to the gross domestic product (GDP) to 71 percent this year.

Al-Sisi mentioned again his country hosting about nine million refugees and that hosting them costs over $10 billion per year.

Finance Events

Seamless North Africa 02.07.2024

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