Cairo - Mubasher: The Assistant Sub Governor of the Central Bank of Egypt (CBE) said that foreign trade since the pound flotation on 3 November 2016 until 10 April 2017 reached around $28 billion.

Tarek Fayed added in a statement that this amount included payment documents and letters of credit at $19 billion, as well as opening credit letters of $9 billion.

Recently, the deputy governor of the CBE, Gamal Negm, said that clients US dollar sales to banks in the Egyptian market reached $16.2 billion since freeing exchange rates until now.

Negm also revealed that foreign exchange outcome to the Egyptian banking sector in the ten-month period prior to the pound flotation totalled $6.6 billion.