VOL.XXXIXNo. 65/6623/30-December-1996EGYPT

EgyptianGovernment Will Resist Currency Appreciation The Egyptian Minister of State, Mr.Yusuf Butros-Ghali, said lastweek that his government will resist any tendency for the Egyptian Pound toappreciate vis-a-vis the dollar as a result of the heavy capital inflowsinto Egypt in recent months. In order to stabilize the local currency at about$1=E3.39-3.40, the Central Bank of Egypt has been intervening in themarket, acting mainly through the big four...