NBE to offer CDs at 16%, 20% interest rates
The National Bank of Egypt
Cairo - MENA
The National Bank of Egypt (NBE) will offer two certificates of deposit (CDs) at a 16% interest rate (three-year maturity) and 20% (18-month maturity), an official source at the bank said.
The new figures were announced after the Central Bank of Egypt officially liberalized the exchange rate of the Egyptian pound earlier, the source told MENA.
The two certificates will have monthly and quarterly revenues, respectively, the source added.
According to the NBE website, the exchange rate of the US dollar hit EGP 13.1 for purchase and EGP 13.5 for sale.
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