C Bank head says new ex rate system successful

EGYPT - Prime Minister Dr Atif Ubayd 12 August presided over a meeting of the ministerial economic group which reviewed conditions on the exchange rate market and made an evaluation of the first week of the new exchange rate system and providing foreign currency.

Governor of the Central Bank of Egypt, Isma'il Hassan, who attended the meeting said that indicators were positive. All needs of banks were met. The Central Bank intervenes when necessary to provide these needs, he said.

The new system