VOL. XXXI
NO. 25
28-MARCH-1988
Financial and Banking News
BUDGETS AND REVENUES
Egypt Abolishes Commercial Bank Pool
The number of official exchange rates in Egypt has been reduced to two withthe abolition on 22 March of the Commercial Bank Pool rate and its replacementby the free market rate, which last week stood at E2.25=$1. The CommercialBank Pool rate was E1.35=$1 at the time of the May 1987 currency reforms inEgypt, but its use has been steadily reduced in recent months as it wasprogressively...
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