Kuwait – Mubasher: Bayan Investment said that floating the Egyptian Pound’s impact on investments inside Egypt cannot be determined at the current time.
The decision taken by the Central Bank of Egypt to free float the currency may increase the coast of purchasing imported materials as well as the administrative expenses. Thus, the final prices of products will be higher for clients, according to a bourse statement issued on Wednesday.
Bayan clarified that the decision to float the Pound has no impact on the company’s financial position.
