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Monday, 14 October 2019

Egypt's central bank lifts limits on foreign currency transfers

Ahram Online , Wednesday 14 Jun 2017
Central Bank
File Photo: Egypt's Central Bank headquarters in downtown Cairo (Photo: Reuters)
Views: 3619
Views: 3619

The Central Bank of Egypt (CBE) announced on Wednesday afternoon that has lifted the limits on foreign currency transfers.

On 6 January 2014, the CBE limited foreign currency transfers to $100,000 per individual per year.

At the end of May, Egypt's foreign reserves edged up to $31.125 billion, nearing pre-2011 reserves, which were estimated at $36 billion.

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