Egypt’s foreign inflows grow 30% since pound correction move in March – governor

Egypt’s Central Bank Governor Tarek Amer said on Wednesday foreign inflows have increased by around 30 percent since its pound currency was depreciated by nearly 14 percent in March.

On March 21, the central bank hiked benchmark interest rates by 1 percent during a surprise monetary meeting. It described the depreciation of the pound was as a correction that would make exports competitive and reflected world and local developments.

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