Central Bank yet to announce flotation of Egyptian pound: MP ...Egypt

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Central Bank yet to announce flotation of Egyptian pound: MP
source : EGYPT INDEPENDENT ( Egypt ) () 10
Parliament Member Ahmed Samir said that the Central Bank has not officially announced the flotation of the Egyptian pound so far. The Central Bank cannot issue a decision to float, even partially, without ensuring a sufficient supply of US dollars in Egypt’s banks, he explained. Its availability is an essential element in determining the price of the dollar in the parallel market, which relies on the vision of the Central Bank. The Central Bank is solely responsible for monetary policy and tackling the problem of the parallel market in the coming period in accordance with the law, he added, and indicated that there is a concrete plan to deal with the parallel market. “The black market greatl

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