Today, Thursday, the Egyptian Central Bank announced the November 7 issue of treasury bills for a year with a total value of 695 million euros.
The payout will take place on November 8, the bank added.
The Central Bank of Egypt announced the rise of its foreign reserves to 33411. 4 million dollars at the end of October 2022, “in principle”, according to the bank’s website, and it was seen by Al -Arabiya Net.
According to the figures released by the Central Bank of Egypt, Egypt’s foreign reserves would have climbed by roughly 213 million dollars in October.
On Thursday, October 27, 2022, the Central Bank of Egypt approved the raising of interest rates and reduced the value of the Egyptian pound against the US dollar, and revealed that it will adopt a flexible exchange rate system, while giving priority to the primary goal of achieving price stability.
He clarified that the factors of supply and demand will determine how much the Egyptian pound will cost in relation to other foreign currencies.
He added that in order to expand the foreign exchange market and increase levels of foreign liquidity, it will be effective to construct and develop the financial derivatives market.
Egypt issues 695 million euro worth of yearly Treasury Bills.
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