Foreign currency inflows into Egypt state banks at $240 billion since pound float

Foreign inflows into Egypt’s two biggest state banks, National Bank of Egypt and Banque Misr have reached $240 billion since the Egyptian pound was floated in November 2016.

The National Bank of Egypt had collected around $177 billion, its deputy chairman Yehia Aboul Fotouh said, and Banque Misr $63 billion, its vice chairman Akef El Maghraby, said, according to the state Middle East News Agency.