VOL. XLIII

No. 10

6-March-2000

EGYPT

Egyptian Exchange Bureaus Lift Restraints On Exchange Rate Movements

The syndicate of Egyptian exchange bureaus has lifted voluntary restraints on exchange rate movements, allowing its members to set rates strictly according to market forces. According to Cairo-based EFG - Hermes, the restraints, which held the dollar in the E 3.45-3.47 range, were adopted several months ago as part of a unified effort to bring calm to the forex market. Currently money...