Pre-Trading Thoughts

The two exchange companies affiliated with the National Bank of Egypt and Banque Misr attracted more than EGP2 billion in proceeds from concessions on foreign and Arab currencies in favor of the EGP, since the CBE's decision to liberalize the FX rate on 6 March. The Prime Minister said that the demand for the USD, as confirmed by the Governor of the CBE, has begun to decline in light of the wide availability made by the bank and the speedy release of goods from customs in recent days. A deleg...