CBE governor: Dollarisation in Egypt decreasing
Governor of the Central Bank of Egypt
Cairo - MENA
Governor of the Central Bank of Egypt (CBE) Hisham Ramez said Sunday the dollarization levels were decreasing in Egypt, noting the official and non-official exchange rates would soon be the same.
On the sidelines of the press conference during which he announced issuance of investment certificates in the New Suez Canal Project, Ramez said dollars were now available at all banks to meet the demand of companies and individuals.
The dollar deposits over the past period were decreasing by 22-30% of all deposits which reflected the decrease of dollarization on the market.
"The Egyptians have turned to the Egyptian pound for their savings," he concluded.
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