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US dollar price hits LE27 on Thursday

Egypt’s central bank hiked overnight interest rates by 300 basis points on Thursday, December 22, in an attempt to curb inflation rates.
06.01.23 | Source: Egypt Independent

The price of the US dollar hit LE27 in mid-trading on Thursday, January 5, 2023, after it reached a new high.


The initial rise was yesterday as the US dollar rose significantly on Wednesday to LE26, coinciding with Banque Misr the National Bank of Egypt offering savings certificates, with a return of 25 percent.


Egypt’s central bank hiked overnight interest rates by 300 basis points on Thursday, December 22, in an attempt to curb inflation rates.


The CBE’s Monetary Policy Committee (MPC) raised the deposit rate to 16.25 percent and its lending rate to 17.25 percent.

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