Pre-Trading Thoughts

NFL position shrank by USD808 million in July, recording USD-26.3 billion up from USD-27.1 billion in June. Foreign nationals applying for a residence permit after arriving in Egypt will soon be required to transfer the required fees from hard currency into EGP through a local bank or exchange office. Capital Intelligence Ratings lowered Egypt's Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) to 'B' from 'B+'. The Outlook on Egypt's LT FCR and LT LCR ha...