Governor of Egypt’s Central Bank expects pound to rise against dollar – Egypttoday

Governor of Egypt’s Central Bank expects pound to rise against dollar – Egypttoday

Governor of Egypt's Central Bank expects pound to rise against dollar. CAIRO - 30 March 2020: "The Egyptian pound exchange rate will rise against the US dollar during the coming period," Governor of the Central Bank of Egypt (CBE) Tarek Amer expected Sunday.. The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided earlier to cut the overnight deposit rate, the overnight lending rate, and the rate of the main operation in an emergency meeting by 300 basis points.. The overnight deposit rate, the overnight lending rate, and the rate of the main operation are cut to reach 9.25 percent, 10.25 percent, and 9.75 percent, respectively.. Credit and discount rates are cut at 9.75 percent from 12.75 percent.. Egyptian banks reduce interest rate of dollar-dominated savings by 1%.