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CAIRO, Nov 16 (Reuters) - Egyptian banks have provided more than $2.2 billion to clients since the pound was floated, Egypt's cabinet information centre said on Wednesday.
The central bank abandoned its peg of 8.8 per dollar on Nov. 3. On Wednesday, it let the pound change hands at about 15.25/15.95 to the dollar. EGP=
"Banks are working on providing all the real foreign currency needs of clients, and the central bank clarified that the banking sector injected more than $2.2 billion to cover clients' needs... in the period starting from the decision to float the pound up until Nov. 14," it said in a statement.
(Reporting by Ehab Farouk; Writing by Asma Alsharif; Editing by Hugh Lawson) ((asma.alsharif@thomsonreuters.com; +20225783290; Reuters Messaging: asma.alsharif.reuters.com@reuters.net)
The central bank abandoned its peg of 8.8 per dollar on Nov. 3. On Wednesday, it let the pound change hands at about 15.25/15.95 to the dollar.
"Banks are working on providing all the real foreign currency needs of clients, and the central bank clarified that the banking sector injected more than $2.2 billion to cover clients' needs... in the period starting from the decision to float the pound up until Nov. 14," it said in a statement.
(Reporting by Ehab Farouk; Writing by Asma Alsharif; Editing by Hugh Lawson) ((asma.alsharif@thomsonreuters.com; +20225783290; Reuters Messaging: asma.alsharif.reuters.com@reuters.net)