CBE’s latest decisions helped overcome gap between dollar exchange value in official and black markets Mohsin Adel, Chairman of Egyptian Association for Finance and Investment, said that Egypt has lost giant foreign currency sources, since 25th January Revolution, on top of them is tourism.
CBE’s latest decisions helped overcome gap between dollar exchange value in official and black markets, Adel stated.
He added that among the brightest sides of these decisions are more flexible monetary policies.
Adel pointed out that Russia has devaluated its currency by more than 65 per cent.
He assured that encouraging investments and exports will back these decisions, projecting that prices won’t witness a high increase following them. “The problem is that our imports exceed our exports”.
