Foreign currency collected since floating pound hit $52B: CBE

CAIRO - 14 October 2017: Central Bank of Egypt (CBE) Deputy Governor Rami Abul Naga said on Saturday that the foreign currency collected by banks since floating the Egyptian pound in November last year increased to reach $52 billion.

He told MENA that such increase came as a result of remittances of the Egyptian expats, investments and export revenues.

In an earlier statement to MENA, Central Bank of Egypt Governor Tareq Amer said that the economic reform results in Egypt are strong" and exceeded expectations.

Amer noted that international investment experts described the results of Egypt's economic reform program as an extraordinary achievement, underlining that appetite for foreign investments in Egyptian securities increased to 18 billion dollars in September.

Amer added that international institutions sought to invest 26 billion dollars in international securities issued by Egypt.

He also cited international bodies's approval to lend Egypt more than 20 billion dollars.

Inflows from inside Egypt reached 35 billion dollars, he added.