10 foreign exchange companies seized over black market dealing

Security forces at the Interior Ministry managed to seize 10 exchange companies for selling foreign currency at more than the official rate in Cairo and Giza governorates. 

Earlier, Interior Minister Magdy Abdel Ghaffar issued directives to step up campaigns to crackdown on black market as it destabilizes the country's currency and affects national economy. 

Security forces also managed to seize a number of exchange companies in Cairo and Alexandria governorates, which are operating despite a decision issued by the Central Bank of Egypt to cancel their licenses.

The Central Bank of Egypt was notified of the violations in order to take the necessary measures. 

Also, a number of traders selling foreign currency outside the official exchange rate were arrested. 

The Public Prosecution was notified to continue investigations.