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Overnight interbank steady at 8.55 percent - Daily News Egypt

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Overnight interbank steady at 8.55 percent

CAIRO: The median overnight interbank rate on the Egyptian pound was 8.55 percent on Wednesday, little changed from Tuesday s 8.58 percent, with few banks dealing, bankers said. Four of nine banks contacted by Reuters dealt overnight at rates of 8.45 to 8.65 percent. Only one bank contacted on Tuesday had dealt overnight at 8.65 …


CAIRO: The median overnight interbank rate on the Egyptian pound was 8.55 percent on Wednesday, little changed from Tuesday s 8.58 percent, with few banks dealing, bankers said. Four of nine banks contacted by Reuters dealt overnight at rates of 8.45 to 8.65 percent. Only one bank contacted on Tuesday had dealt overnight at 8.65 percent. The central bank effectively sets limits for overnight rates by offering 8.25 percent on overnight deposits and lending overnight at 10.25 percent. Two of the banks dealt one-week money at 8.7 percent. This is the same level reported by two banks on Tuesday. The pound strengthened slightly against the dollar by 11:00 GMT to LE 5.7471 from Tuesday s closing weighted average of LE 5.7477. Reuters

Topics: FJP

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https://dailyfeed.dailynewsegypt.com/2006/04/06/overnight-interbank-steady-at-8-55-percent/
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