Three trade corporations affiliated with Egypt’s largest authorities banks – the Nationwide Financial institution of Egypt (Al-Ahly Change), Banque Misr (Misr Change), and the Banque du Caire (Cairo Change) – revealed that their overseas trade collections had risen to about eight billion LE, because the liberalization of the trade charge.
The chairman of the Al-Ahly Change firm Abdel Meguid Mohie al-Din defined that the corporate’s proceeds from concessions on overseas and Arab currencies in favor of the Egyptian pound amounted to LE4.55 billion by the top of enterprise on Friday.
The proceeds of the concessions on Friday alone amounted to LE224 million, with 65 p.c of the overall proceeds have been from concession of US greenback, and different currencies got here in second place, such because the Saudi riyal, the Emirati dirham, and the European foreign money Euro.
