Financial and Banking News


Egypt Loosens Controls on Forex Dealing as Eœ Plunges 

The new Egyptian Prime Minister, Mr. 'Ali Lutfi last week assured business leaders that law enforcement authorities had been instructed not to harass money changers or to enforce regulations which ban foreign currency dealing outside the banks if such deals are to finance imports. A stiff crackdown on the 'free market' for foreign currency in recent weeks has been...