Central Banks places $10K ceiling for daily cash deposits
Central Bank of Egypt - YOUM7 (Archive)

CAIRO: The Central Bank of Egypt (CBE) decided to put in place a $10,000 daily ceiling for cash deposits in hard currency for both individuals and companies, Youm7 reported.

The CBE also decided that monthly deposits in banks operating in Egypt must not exceed $50,000, a top ranking banking official told Youm7 after an immediate meeting held Wednesday to consider exchange rates.

“A number of technical procedures were also taken during the meeting, in order to crush the dollar trading in the black market completely,” the source added, without revealing any further details.

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