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Exchange firm officials prepare for expanded meeting with CBE - Daily News Egypt

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Exchange firm officials prepare for expanded meeting with CBE

El-Abyad denies any agreement between CBE and exchange firms on a specific price for dollar

The general division of exchange firms at the Federation of Egyptian Chambers of Commerce (FEDCOC) is coordinating with its members to hold an expanded meeting with the governor of the Central Bank of Egypt (CBE), Tarek Amer, according to head of the division Mohammed El-Abyad.

Amer held a meeting last Tuesday with some officials of exchange firms to review the current status of the exchange market, and the high values that the dollar reportedly registered against the pound in the informal market, El-Abyad said.

During the meeting, it was agreed that another larger meeting would be held so that more exchange firms operating in the market could attend, heel-Abyad noted.

He further highlighted that cooperation between exchange firms and the CBE is vital to overcome the current crisis in the exchange market, and to restore discipline in it.

El-Abyad moreover firmly denied media reports that Amer agreed with exchange firm officials to not sell the dollar at more than EGP 9.75 at their outlets.

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