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Osama Abu El-Magd, head of the Egyptian Automobile Traders Association, denied reports that the Central Bank of Egypt had stopped allocating dollars to car importers, saying banks meet importers' forex needs regularly. The denial follows car price increases of up to 100,000 pounds in October, which the manufacturers' association attributed mainly to supply shortages and slower import cycles.
Rumored FX rationing would have tightened import financing in Egypt, so the denial eases that concern. Dollar scarcity remains a background pressure on importers' costs, including for food and feed imports.
eg.instadriv.comNov 2, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
