Egypt: We have a "fake" that suffices the market's needs for a year and a half

The head of the Public Treasury and Mint in Egypt, Hossam Khader, revealed that an additional share of the free currency was offered to meet market needs during the Eid al-Fitr period.

Khedr explained that the reserve of the auxiliary coins "fakkah" suffices the needs of the markets for a period of one and a half years, stressing that the Public Treasury and the mint pay additional shares of the "fakkah" during the seasons and holidays.

Khader indicated, according to "Sky News Arabia", that since the beginning of the month of Ramadan, the offered quantities of "fakkah" coins have increased by 50 percent, and that this contributed to facilitating citizens, as well as facilitating buying and selling operations, and succeeded in avoiding any bottlenecks in situations. cars or markets.

The head of the Mint Authority clarified that the necessary auxiliary coins "fakkah" were provided to meet the needs of all government agencies and the private sector, including major commercial chains, in light of the volume of their business from the reality of tax cards and commercial records.

He revealed that in the normal situation, the total production of change money per month amounts to 45 million pounds, but during seasons and holidays this number doubles to reach about 90 million pounds.

He concluded that linking production to distribution, which was achieved by merging the interests of the "public treasury" and "the mintage" in one entity, succeeded in determining the actual needs of the auxiliary coins "fakkah" with accuracy, and then quickly meeting those needs to facilitate the Egyptian citizens.

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