Egypt : Banks Collected $12.3 Bln Since Liberating Exchange RateSource: www.export-egypt.com 2/14/2017, Location: Africa |
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The Egyptian banks have collected $12.3 billion since a decision was taken to liberate the exchange rate on November 3, 2016, a source at the Central Bank of Egypt (CBE)
As many as $635 million have been collected, while over $550 million had been collected mainly from the Upper Egyptian governorates, the source added. The source said the number of dollar holders who sell the hard currency they own to banks is increasing day by day. The dollar price has sharply dropped since the beginning of last week amid oversupply and declining demand, the source added. |
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