Home MoneyBanks Egypt sells $500mn in Interbank Market to meet Strategic Food Demands

Egypt sells $500mn in Interbank Market to meet Strategic Food Demands

by Yomna Yasser

Egypt’s central bank announced on Monday it sold $500 million in the interbank market.

The bank said it aims to meet outstanding demand for “strategic staple food commodities” with the approach of the Muslim holy month of Ramadan, which will begin in mid-June.

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