Egypt’s central bank issues €690M on euro-dominated T-bills

Egypt’s central bank issues €690M on euro-dominated T-bills

CAIRO - 5 November 2020: The Central Bank of Egypt (CBE) is set to issue €690 million in euro-dominated treasury bills (T-bills) on Monday, Nov. 9.

 

A banking official revealed Wednesday that the total foreign exchange inflows to banks and the banking system have reached more than $ 400 billion since the liberalization of the exchange rate in November 2016 until now.

 

In a press statement, the official said that these flows included cash loans, bonds, investor inflows, tourism revenues, and remittances from Egyptians working abroad in addition to exports, and did not include project loans.

 

He emphasized that the decision to liberalize the exchange rate succeeded in restoring the confidence of the international investment community in the Egyptian economy, which was reflected in the volume of foreign cash flows to Egypt, in addition