Cairo – Mubasher: National Bank of Egypt’s (NBE) US dollar proceeds reached $40 billion since the liberalisation of the exchange rate, the deputy chairman of the biggest state-run lender said on Monday.
The proceeds will be used in financing commercial transactions, Yehia Abu El-Fotouh told Mubasher in a phone call.
The bank’s US dollar proceeds have exceeded $1 billion since January, Abu El-Fotouh added.
