Today, Thursday, Refinitiv data reported that the Egyptian pound hit an all-time low of 22.5 pounds per dollar, after the Central Bank of Egypt decided to raise the interest rate by 200 basis points. .
At 08:09 GMT, the pound was 22.5 against the dollar.
This comes after the Central Bank of Egypt announced today Thursday to raise the interest rate in the decision of the Monetary Policy Committee. in an exceptional reunion, in which raised overnight deposit and loan rates and the Central Bank’s main transaction price by 200 basis points to reach 13.25%, 14.25% and 13.75% respectively.
The Central Bank of Egypt has decided to increase the interest rate (credit and discount) by 200 basis points to reach 13.75%.
The central bank said, in a statement on your site webthat the objective of raising interest rates is to contain inflationary pressures caused by the demand side, the high growth rate of domestic liquidity, inflationary expectations and the secondary effects of supply shocks.
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