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Tuesday, March 31, 2020 11:7 GMT
Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding as concern grows over the spread of the coronavirus. The daily limit for individuals would be 10,000 Egyptian pounds (~US$640) and 50,000 pounds (~US$3,200) for companies, a central bank statement said, though businesses will be exempt from the withdrawal limits if the money is used to pay employees. The central bank has also limited...More