The Central Bank of Egypt (CBE) has no intention of devaluing the EGP and is committed to the current official exchange rate, CBE Governor Tarek Amer told state-owned Al-Ahram. Amer attributed the rapid weakening of the EGP on parallel market trading to latest measures to ease foreign currency deposit limits, which he said had managed to attract the offshore parallel market. Amer also said the CBE will take serious actions against foreign exchange bureaus which do not abide by pricing rules, noting that two have already seen their licences permanently withdrawn. Other sources told Reuters that CBE had closed a total of 27 bureaus, raising the number to 27 across the country. "Many companies are now studying the temporary halt of operations for fear of being closed for good by the central bank as part of their campaign on exchange bureaus," another source said. (Al-Ahram, Reuters)