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Interbank rate steady at 8.2 percent - Daily News Egypt

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Interbank rate steady at 8.2 percent

CAIRO: The median overnight rate on the pound was 8.2 percent on Monday, little changed from Sunday s 8.186 percent, bankers said. Three of nine banks contacted by Reuters had dealt overnight at rates of 8.15 to 8.3 percent. The range was 8.1 to 8.2 percent on Sunday. The central bank offers 8 percent on …


CAIRO: The median overnight rate on the pound was 8.2 percent on Monday, little changed from Sunday s 8.186 percent, bankers said. Three of nine banks contacted by Reuters had dealt overnight at rates of 8.15 to 8.3 percent. The range was 8.1 to 8.2 percent on Sunday. The central bank offers 8 percent on overnight deposits and lends to banks at 10 percent, effectively controlling the cost of overnight deals. None of the banks had dealt one-week money. One bank had dealt for one week on Sunday at 8.125 percent. The pound had strengthened marginally against the dollar by 11:00 GMT to LE 5.7581 from Sunday s general weighted average of LE 5.7586. Reuters

Topics: FJP

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