Deposits announced by Gulf leaderships during the Egypt Economic Development Conference (EEDC), will be received by the Central Bank of Egypt (CBE) within days, said CBE Governor Hisham Ramez.
In exclusive statements to MENA Monday, Ramez said that the Gulf deposits will contribute to supporting cash reserves at the CBE.
Ramez, meanwhile, declared that the black market for the dollar has been wiped out entirely.
“There’s no black market anymore,” he said.
The CBE has enforced a set of technical rules which have completely eliminated the unofficial currency market, he added.