The Central Bank of Egypt allowed foreign exchange bureaus to swap other foreign currencies for USD at banks, Al-Ahram reported, reviving a mechanism that was suspended in 2013. FX bureaus requested in a meeting earlier last week to revive the mechanism in order to improve liquidity with Mohamed El Abiad, head of the Federation of Egyptian Chambers of Commerce’s foreign exchange division, saying the decision will boost the supply of greenbacks since about 30% of cash clients hold it in currencies other than dollars. Traders also requested in the meeting the doubling of the range, which they can buy or sell dollars to 10 piasters from the official rate though no news on the CBE responding to such request so far. (Al-Ahram, Bloomberg)