Cairo – Mubasher: The Egyptian economy has seen more than $100 billion (EGP 1.76 trillion) in foreign investments since the liberalisation of the exchange rate in November 2016, Central Bank of Egypt’s (CBE) governor Tarek Amer said.
This came on the sidelines of Seamless North Africa 2018 conference held in Egypt between 6 and 7 February 2018.
Amer noted that the CBE's policy in regards to cutting interest rates is contingent on taming inflation, according to state news agency MENA.
“We are constantly and adequately studying markets before making any decisions,” he continued.
On 3 November 2016, the CBE has free floated the Egyptian pound against the US dollar to be set in accordance with the market's supply and demand forces, in addition to raising interest rates by 300 basis points.
