Pre-Trading Thoughts

The Central Bank announced of an upswing in foreign inflows to local banks through the local foreign exchange market and other sources in recent days. Foreign investors poured some USD925 million into our local foreign exchange market in three days. The two state-owned banks will withdraw within days the one-year, 25% certificates of deposit they introduced to the market. The government is currently studying the establishment of a closed foreign currency fund for Egyptians working abroa...