# Egyptian Auto Traders Association Denies Central Bank Halted Dollar Allocation for Importers : InstaDriv

> 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.

- Date: 2026-11-02 · published 2026-11-03T06:10:42.606Z
- Category: macro · region Egypt · magnitude low
- Page: https://feedsoft.ai/events/77114-egyptian-auto-traders-association-denies-central-bank-halted-dollar-allocation
- Commodities: [Egyptian Pound (EGP per USD)](https://feedsoft.ai/c/USDEGP.md)

## Why it matters

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.

## Sources

- eg.instadriv.com: https://eg.instadriv.com/en/news/egyptian-market/egyptian-auto-traders-association-denies-central-bank-halted-dollar-allocation-importers-5229

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.