Egypt’s c. bank auctions EGP 150b corridor-linked deposits

By Nada Ali On Feb 21, 2024

Egypt's central bank Egyptians central bank — Egypt's central bank (CBE)

The Central Bank of Egypt (CBE) is offering corridor-linked deposits for a duration of 35 days, amounting to 150 billion Egyptian pounds, the bank announced through its website on Wednesday.

The total amount to be returned is 275 billion pounds, and the deposit maturity date is set for 27-3-2024, as per the central bank statement.

This move is part of the linked deposits system that CBE regularly provides to control the money supply in the market. It is one of the tools used in the open market to effectively manage liquidity levels and absorb excess funds to control inflation rates.

(1 United States dollar = 30.91 Egyptian pounds)

Central Bank of Egypt (CBE)corridor linked deposits Egypt's central bank Egyptian Pound inflation rates liquidity manage liquidity