The Central Bank of Egypt (CBE) announced on Wednesday it would allow the value of the Egyptian pound (EGP) to decline gradually over the coming months should demand for the currency recede.
However, the bank said it was not targeting a specific (...)
Bank directors have been ordered to monitor assets frozen in the wake of the popular uprising in Egypt. The order came from the head of the Central Bank of Egypt, Farouk al-Oqda, according to a senior source in the banking sector.
Egyptian (...)