Financial and Banking News

REGIONAL BANKING

E£ Float Planned, but Not Imminent 

A full float of the Egyptian Pound (E£) is being planned, with its implementation to be spread out over a three to five year period, according to a statement by Mr. 'Ali Negm, the Governor of the Central Bank of Egypt, last week. Mr. Negm said that a more rapid rationalization of the present multi-tier exchange rate - the main rates in use ranging from the 'official' rate of...