Egypt has not banned dealing in Qatari riyal, central bank says

By Kitco News / June 05, 2017 / www.kitco.com / Article Link

CAIRO, June 5 (Reuters) - The Central Bank of Egypt said on Monday that it had issued no instructions to halt the buying or selling of the Qatari riyal.

There would be no restrictions on exchanging the Qatari currency to Egyptian pounds or any foreign currencies, the bank said in a statement.

Egypt was one of four Arab nations to cut diplomatic ties with Qatar on Monday, along with Saudi Arabia, United Arab Emirates and Bahrain. Yemen, Libya's eastern-based government and the Maldives joined in later.

Some Egyptian banks earlier halted dealings with Qatari banks, and some stopped accepting Qatari currency, responding to Cairo's announcement that it had cut ties with Qatar.


(Reporting by Ahmed Aboulenein, editing by Larry King)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities,securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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