- The Central Bank of Egypt obtained liquidity worth 667.250 billion pounds from 31 banks in the second open market bids after the decision to amend the policies for accepting bids with an interest rate of 27.75%.
- The Central Bank obtained liquidity worth 460.8 billion pounds in the first open market bids last week.
- The Central Bank of Egypt recently issued new instructions regarding the rules governing the main process of linking deposits (Main Operation) for open market operations that the Central Bank was conducting by holding a fixed-rate auction on a weekly basis, where the size of the operation that the bank will conduct is announced. The Central Bank accepts bids using the allocation method, which is determined based on the ratio of the bid submitted by the bank to the total bids submitted, to which the price of the main transaction is applied.
- The Central Bank confirmed that, in light of its keenness to follow the best international practices regarding managing surplus liquidity in the banking system and improving the impact of monetary policy decisions, it was decided to change the method of accepting bids for the main process of linking its deposits (Main Operation) from the allocation method to the method of accepting all submitted bids. Full Allotment), starting April 23, 2024, provided that the results of each linking process are published on the website of the Central Bank of Egypt.
- The Central Bank confirmed its continued management of liquidity in a way that achieves balance to ensure its consistency with its operational goal, which is to maintain the weighted average return rate for one night in the interbank market around the transaction price, which is the main one, which is the average corridor price.
