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Egypt’s central bank said the value of interbank payments in local currency on the Real Time Gross Settlement (RTGS) system totalled 44.899 trillion Egyptian pounds in the first two month of 2024, as reported by FEB on Wednesday.
In January, there were 202,602 transactions amounting to 20,580 trillion pounds, while February saw 202,977 transactions totalling 24,318 trillion pounds, according to the report.
The RTGS system is crucial for settling high-value and high-priority payment orders domestically, making it a systemically important payment system.
RTGS refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities, according to Investopedia website.
