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Egypt's cenbank says high-interest deposit certificates attracted $3.5 bln
December 14, 2016 / 11:16 AM / a year ago

Egypt's cenbank says high-interest deposit certificates attracted $3.5 bln

CAIRO, Dec 14 (Reuters) - Egypt’s central bank said on Wednesday that high-interest deposit certificates issued by banks since the pound currency was floated last month have so far attracted 64 billion Egyptian pounds ($3.47 billion) in new investment inflows.

Egypt’s two largest state-owned banks offered 18-month certificates of deposit at 20 percent and three-year certificates of deposit at 16 percent in a bid to attract currency being held outside the banking system.

$1 = 18.4500 Egyptian pounds Reporting by Ehab Farouk; Writing by Eric Knecht; Editing by Catherine Evans

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