Interbank rates rise to 8.25 percent

Daily Star Egypt Staff
1 Min Read

CAIRO: The median overnight interbank rate on the pound rose to 8.25 percent on Tuesday from 8.11 percent on Monday at the start of a new two-week period for calculating bank reserves.

Four out of nine banks contacted by Reuters had traded overnight money at rates between 8.2 and 8.35 percent, compared with a range of 8.05 to 8.15 percent on Monday. As on Monday, none of the banks said they had dealt one-week money.

By 10:00 GMT, the average rate for the pound was LE 5.7577 to the dollar unchanged from Monday s close. Reuters

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