Outside border

by day dreamer Mon 18 Feb 2013, 6:01 pm

day dreamer: Interacting Investor; Posts : 3197
Join date : 2012-12-19

Post n°1

Outside border

by day dreamer Mon 18 Feb 2013, 6:01 pm

02/18/2013 (23:00 pm) -

Outside border

Egypt

Suffer scarcity of the dollar

Suffer exchange companies in Egypt of the scarcity of the dollar, and can not meet more than 20% of customer demand for the U.S. currency in light of the growing crisis.
The President of the Exchange Division of the Federation of Chambers of Commerce in Egypt Mohamed White that the banks do not give the exchange companies reminiscent of the dollar amounts, so these companies depend on what you buy from customers, but they in turn buy the dollar more than they sell.
"I do not now meet more than 20% of customer demand for the dollar, with the dollar shortage there is almost stopped in our work."
The Egyptian pound began to decline against the dollar since the revolution of January 25 / January 2011 that toppled the ousted Hosni Mubarak. The Egyptian currency has lost 8% of its value since December 30, when the central bank began the introduction of tenders to control the dollar falling pound.
But White said, "The central bank can not do anything in the dollar shortage crisis has mechanisms".
He also explained that the exit of foreign investments and capital flight out of fear of the situation in Egypt are the ones who do well dollar crisis.

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