Egypt's central bank has reversed a recent decision to raise daily cash withdrawal limits, restoring the cap to 250,000 Egyptian pounds ($5,060) for individuals and companies, according to an official circular sent to banks on Tuesday. The move cancels a July 8 directive that had temporarily increased the ceiling to 500,000 pounds, signalling a shift in the central bank's liquidity management strategy. Banks have been instructed to comply with the updated limit effective immediately. No official reason was provided for the reversal, but the move comes as authorities seek to balance cash flow management with anti-inflation measures and broader economic reforms under International Monetary Fund-backed programmes. Attribution: Amwal Al Ghad English Download
