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Egypt median o/n interbank rate steady at 8.35 pct - Daily News Egypt

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Egypt median o/n interbank rate steady at 8.35 pct

CAIRO: The median overnight interbank rate on Egypt s pound was 8.35 percent on Thursday, with market conditions little changed from Wednesday when the rate was 8.399 percent, bankers said. Four of seven banks contacted by Reuters had dealt overnight at between 8.3 and 8.4 percent. Rates were between 8.35 and 8.45 percent on Wednesday. …


CAIRO: The median overnight interbank rate on Egypt s pound was 8.35 percent on Thursday, with market conditions little changed from Wednesday when the rate was 8.399 percent, bankers said.

Four of seven banks contacted by Reuters had dealt overnight at between 8.3 and 8.4 percent. Rates were between 8.35 and 8.45 percent on Wednesday.

“It s almost around the same levels as yesterday, one banker said.

The central bank effectively controls overnight rates by offering 8.25 percent on overnight deposits and lending overnight at 10.25 percent.

None of the banks contacted on Thursday had dealt one-week money. Three banks contacted on Wednesday had dealt one-week money at 8.4 and 8.5 percent. At 11:00 GMT the pound was steady against the dollar at 5.7323, hardly changed from Wednesday s 5.7321. Reuters

Topics: FJP

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