After the devaluation of the Egyptian pound.. when will the black market end?.
The Central Bank aims to push dollar holders to get rid of it and replace it with the Egyptian Pound to benefit from the interest rate difference. If the interest on the dollar in the United States reaches 5.5%, and on three-year dollar certificates of deposit issued by Egyptian government banks, it reaches 7%. It reaches 9%, but the interest is obtained in Egyptian pounds in advance, while new savings certificates have a return of 30% in the first year, 25% in second year, and 20% in third year.