Cairo – Mubasher: Egyptian banks have provided about $55.1 billion to satisfy customers’ needs since the liberalisation of the exchange rate, an official at the Central Bank of Egypt (CBE) told Reuters on Tuesday.
The banks paid $40 billion in documentary collections (D/Cs) and letters of credit, and opened new letters of credit for $15.1 billion during the period between November and September, the source added.
Source:
Mubasher