Cash
In 2015, the CBE required all importers to fully cover import letters of credit (LC) at banks at the time of opening them.
This gave a boost to both the public and private sectors during the coronavirus crisis, Amer noted.
In a statement, the central bank also underlined the importance of sterilizing all cash dispensers on a periodical basis as part of precautionary measures against COVID-19.
The Central Bank aims to reach 3 million points of sale in the next three years while the current number is only 92,000, according to Nasr.
The Mint Authority announced on Wednesday installing a machine to change cash for coin in the main post office in Ataba.
Passengers are allowed to carry up to LE5,000, or $10,000 or the equivalent in freely convertible currency.
Ministry of Foreign Affairs clarified in a statement on Friday new cash and customs rules travelers to Sudan must abide by to avoid any legal repercussions.
The rise in the euro and sterling led investors to take profits on the U.S. dollar, which has retraced from a 16-month high.
With Egypt’s location so close to many of the locations that often receive aid from countries all around the world, it is important to understand different effects they have.
Cash flow to banks in Egypt has increased since the exchange rate liberation to $80 billion.
Money supply stood at 3.01 trillion Egyptian pounds ($171 billion), the bank said.
The monetary supply leveled up to LE 654.2 billion in April 2017 compared to LE 540.2 billion in April 2016.
