Home MoneyBanks Egypt’s c. bank offers fixed-rate EGP 150 bln deposits

Egypt’s c. bank offers fixed-rate EGP 150 bln deposits

by Nada Ali
Central Bank of Egypt

The Central Bank of Egypt (CBE) offered on Tuesday a fixed-rate deposits of 21.75 per cent for seven days’ worth 150 billion Egyptian pounds, according to a statement on its website.

The Egyptian central bank uses the open market deposit system to absorb surplus liquidity from banks by accepting fixed-rate deposits.

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