U.S. dollar notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File Photo U.S. dollar notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File Photo

Egyptian banks reduce interest rate of dollar-dominated savings by 1%

By: MENA
Tue, Mar. 24, 2020
CAIRO - 24 March 2020: A well-placed banking source said Egyptian banks have reduced interest rate of dollar-dominated savings by 1 percent.

In statements to MENA Monday, the source said the decision came in light of a trend by all international central banks to down the interest rate on dollars.

The Central Bank of Egypt decided last week to reduce interest rate on deposits and loans in Egyptian pounds by 3 percent.
 
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