Egypt’s c. bank auctions EGP 100b corridor-linked deposits

By Nada Ali On Apr 17, 2024

The Central Bank of Egypt (CBE) is offering corridor-linked deposits for a duration of 35 days, amounting to 100 billion Egyptian pounds, the bank announced through its website on Wednesday.

The total amount to be returned is 105,500 billion pounds, and the deposit maturity date is set for 22-5-2024, 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 = 48.50 Egyptian pounds)

CBE Central Bank of Egypt Central Bank of Egypt (CBE)corridor linked deposits Egypt Egypt's central bank Egyptian Pound Egyptian pounds