12:06 PM
Monday, March 21, 2022
I wrote – Yasmine Selim:
The Central Bank of Egypt surprised everyone and decided to raise the interest rate today, Monday, for the first time in 5 years, following an exceptional meeting.
Following the decision, the price of the dollar rose once morest the pound for the first time in months, exceeding 17.5 pounds per dollar.
Al-Ahly and Egypt banks also decided to offer a savings certificate with an interest rate of 18% for a period of one year, to be paid monthly.
The following video explains the details of the Central Bank’s decisions, their reasons, and how to implement them.
