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Cairo-Mubasher: The Egyptian Central Bank (CBE) has taken an important step in its quest for the development of money, money and derivatives markets by launching the risk-free standard rate – CONIA.
This step fits into the global trend of developing standard limits on risk-free interest rates, with the gradual elimination of standard limits.-IBOR " According to a statement from the Central Bank of Egypt, in several markets.
The new standard has been developed, said the central bank Conia, Average overnight interest rate index for interbank transactions in Cairo (Average Cairo of nights)By the Egyptian Capital Markets Task Force (MMCG), Which includes the Central Bank and several commercial banks, as well as the European Bank for Reconstruction and Development (EBRD). The EGX Working Group was created in March 2018 with the aim of improving the efficiency and transparency of local money markets..
reflects Conia The real interest rates on interbank transactions, which are virtually risk free due to their very short lead times, will be published daily as of October 2019. Their level of transparency and accuracy will support their Conia Develop and make available to financial sector players a wide range of financial products, strengthen the monetary policy transition mechanism and improve the flexibility of financial markets.
After the launch of the standard limit "Conia"The working group will focus on the development of derivatives and financial instruments based on its use..
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