BY: Ahmad Abu El-Hamd
The Central Bank of Egypt (CBE) has printed LE 100 million of one pound banknotes and LE100 million of 0.5 Egyptian Pound banknotes.
A CBE spokesperson has said that the bankers attributed the return of the banknote due to a demand from the local market. CBE was mulling the reprinting in order to preserve the value of the local currency and to bolster it. Money printing has a knock-on effect on the economy, the spokesperson said, as well as being done routinely to replace and renew damaged banknotes.
