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CBE Governor: Egypt attracts $1bn foreign investments after raising interest rates
SIS Published in Albawaba on 29 - 05 - 2017

Cairo - Egypt attracted one billion dollars in foreign investments after the decision of raising interest rates last week, Central Bank of Egypt (CBE) Governor Tarek Amer said on Sunday, May 28, 2017.
Amer added that the CBE and the financial system received on Thursday 448 million dollars and 400 million dollars on Sunday, and others will follow.
The inflows are unprecedented and have never been registered in Egypt before, Amer stressed. The CBE decided last Sunday to raise the overnight deposit rate, overnight lending rate, and the rate of the CBE main operation by 200 basis points to 16.75 per cent, 17.75 percent, and 17.25 percent, respectively.

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