Cairo – Mubasher: The Central Bank of Egypt (CBE) said that banks’ foreign trade finance stood at $70.8 billion since the flotation of the Egyptian pound on 3 November 2016 until 14 December 2017.

In November, the CBE’s Monetary Policy Committee (MPC) decided to keep overnight deposit interest rate and overnight lending unchanged at 18.75% and 19.75%, respectively.

The CBE had increased key interest rates following the libralisation of the exchange rate three times by a combined 7%, or 3%, 2%, and 2% in November 2016, in May 2017, and in July 2017, respectively.