Central Bank reveals the fact that the introduction of new categories of cash in the categories of 500 and 1000 pounds

Users of social networking sites have recently traded on the introduction of new categories of cash 500 and 1000 pounds, due to the devaluation of the Egyptian pound Gamal Najm, deputy governor of the Central Bank of Egypt, at a press conference in Hurghada on Thursday,

In Egypt, the currency is traded in categories (25 piastres, 50 piastres, books, 5 books, 10 books, 50 books, 100 books and 200 books) .It is worth mentioning that inflation began to increase after the liberalization of the exchange rate of the Egyptian pound November 3 , 2016, up to a peak last year at 35%, and then down now to around 13%.

In another context regarding the offer of shares in public banks on the Egyptian stock market, Najm revealed foreign bids to buy these shares, noting that none of these bids were announced . The government announced on March 18 a plan according to which 15 to 30 percent of the 23 state-owned companies worth 80 billion pounds ($ 4.5 billion) will be offered on the stock market, 24 and 30 months, of which 3 banks are banks, "Alexandria" and "reconstruction and housing" and "Cairo".