CBE has no exchange rate target, focuses on inflation fight – Hassan Abdalla

Egypt’s central bank has no intention to keep the exchange rates at a certain level as number one priority right now is to bring inflation down to single-digit target rates, said Governor Hassan Abdalla on Wednesday.
The erosion of consumers’ purchasing power is one of the key risks threatening the national economy as it leads to increasing unemployment rates and economic growth slowdown, Abdalla further said during a press conference in the Central Bank of Egypt’s (CBE) headquarters.
“We have excess funds to pay our obligations,” the CBE governor reiterated.