NBE, Banque Misr, To Offer 18-Month Certificates Of Deposit At 20 Pct, 3-Year Cds At 16 PctSource: www.export-egypt.com 11/3/2016, Location: Africa |
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Egypt’s two largest state-owned banks will offer 18-month certificates of deposit at 20 percent and three-year certificates of deposit at 16 percent, the National Bank of Egypt and Banque Misr chiefs told Reuters.
The move came after the central bank announced it floated the Egyptian pound earlier , setting a guidance level of 13 pounds to the dollar, nearly 48 percent higher than the rate offered since March. |
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