Egypt Forex Crunch Prompts New Limits by Some Banks – Bloomberg

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Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
A number of Egyptian banks have imposed new limits on international credit card transactions as the North African nation wrestles with its worst foreign currency crunch in decades.
Commercial International Bank — Egypt’s largest listed lender — Abu Dhabi Islamic Bank and First Abu Dhabi Bank Misr reduced daily and monthly limits to as little as $50, according to statements on their websites earlier this month.

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