Foreign companies have struggled to repatriate profits since an uprising in 2011 that drove off foreign investors and tourists, starving the import-dependent economy of hard currency and forcing it to ration dollars. Foreign companies seeking dollars to repatriate profits were not. Now, bankers said, the central bank had advised them to use some of that excess to accommodate repatriation requests. The central bank says banks have been free to allocate foreign currency as they see fit since the float. Two multinational companies operating in Egypt said they had not begun to repatriate profits as yet.

Source: Egypt Independent March 01, 2017 08:59 UTC