Egypt’s CBE offers fixed-rate EGP 150b deposits

By Nada Ali On Mar 26, 2024

Egypt's central bank remittances rates Remittances — Egypt's central bank (CBE photo)

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

The deposits will mature on 02-4-2024, 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