CBE offers EGP 100b corridor rate deposits

By Aya El Sayed On Mar 6, 2024

Credit: the Federation of the Egyptian Banks (FEB).

The Central Bank of Egypt (CBE) announced on Wednesday the offering of corridor rate deposits for a term of 42 days with a total value of EGP 100 billion, according to the Federation of the Egyptian Banks (FEB).

The CBE stated that the redeemable amount will be EGP 125 billion, with the maturity date set for April 17, 2024.

This initiative falls within the framework of the CBE’s weekly offerings of linked deposits, which are instruments used in open market operations that aim to control the money supply within the market by managing and absorbing liquidity in order to control inflation rates.