Egypt’s c. bank offers fixed-rate EGP 150b deposits

By Nada Ali On Apr 2, 2024

The Central Bank of Egypt's (CBE) headquarters in the new administrative capital

The Central Bank of Egypt (CBE) offered on Tuesday fixed-rate deposits at 27.75 per cent for six days, totalling 150 billion Egyptian pounds, according to a statement on its website.

The deposits will mature on April 08, 2024, with the amount set at 150 billion pounds, as per the bank’s statement.

The CBE uses the open market deposit system to absorb surplus liquidity from banks through fixed-rate deposits.

CBE Central Bank of Egypt Central Bank of Egypt (CBE)Egypt's central bank Egypt's Ministry of Finance Egyptian Ministry of Finance Egyptian pounds fixed-rate deposits