Egypt received inflows of $1 billion in month following float of currency: central bank

Saturday 10-12-2016 06:27 PM

Central Bank of Egypt (CBE) - Archive

By Reuters

CAIRO (Reuters) - Egypt's central bank governor Tarek Amer said on Saturday that the country had received inflows of around $1 billion in the month since it floated the pound in the currency markets.

"We received in portfolios until now around $1 billion in one month that we were not expecting in the first month (since the float)," he said in a conference in Cairo.

The central bank released its grip on official exchange rates on Nov. 3 in a bid to restore investor confidence and unlock foreign currency inflows.


(Reporting by Asma Alsharif and Ahmed Tolba; Editing by Hugh Lawson)

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