2024-03-08 18:55:01
Yahya Abu Al-Futouh, Vice President of the National Bank, confirmed that there is a strong demand among dollar holders to sell it in banks and exchange companies, saying that Al-Ahly Exchange Company – owned by the National Bank – “exchanged an amount of dollars during the past two days that had not been achieved in two months or more.” “
He added, during statements to Extra News on Friday evening, that the decisions of the Central Bank of Egypt led to the return of transfers from Egyptians abroad to the banking sector following 90% of them were being traded outside it, explaining that all transfers since Wednesday are taking place inside banks at the price Official…
He explained that offering savings certificates with a 30% return attracted many citizens to convert the dollar into Egyptian pounds and link it to the certificates from the National Bank and the National Bank of Egypt, expecting the coming period to witness a decrease in the inflation rate, which rose significantly during the last period.
He noted that Egyptian banks have reopened credit cards, in addition to raising the credit limits for cards gradually and at an accelerated pace.
He stressed that the decisions of the Central Bank of Egypt contributed to putting the Egyptian economy back on the right track once more, expecting that the coming period will witness a change in the future outlook of the Egyptian economy to high, especially following Moody’s raised the credit rating agency’s outlook to positive today.
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