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Egypt decides to limit withdrawals from banks and ATMs to R $ 3,000

Cryptocurrency

The country's government said it wants to control inflation (Photo: Shutterstock)

To control inflation during the spread of the coronavirus, the Central Bank of Egypt has temporarily set a daily withdrawal and deposit limit of £ 10,000 Egyptian pounds (equivalent to about R $ 3,200) at branches across the country.

According to Reuters news agency, the measure came after the agency noticed that the population had drawn the equivalent of R $ 10 billion in Egyptian pounds in the last three weeks, probably due to the crisis generated by Covid-19.

“We found that citizens are withdrawing money from banks, although they don't have to. We want a little discipline. We live in a society and we have to think about others, ”the bank's chairman, Tarek Amer, told the agency.

Companies in Egypt and ATMs

According to Reuters, the measure is not valid for companies that need to withdraw money to pay employee salaries.

A limit has also been created which is equivalent to around R $ 1,500 (£ 5,000) for withdrawals via ATMs.

In addition, the Egyptian central bank also asked the population to give preference to wire transfers instead of physical money.

To this end, the agency instructed banks not to charge transfer and payment fees.

Coronavirus in Egypt

According to Reuters, Egypt registered 33 new cases of coronavirus and four deaths last Sunday. In the country there are 609 confirmed occurrences and 40 fatalities.

The country has ordered mosques to close its doors to the faithful for two weeks from the last 21st – Islam is the main religion practiced in Egypt. However, according to the Ministry of Islamic Donations (Ministry of Awqaf), this period may extend indefinitely.

Coronavirus in Brazil

In Brazil, on Tuesday morning (31), 4,683 confirmed cases of the new coronavirus were recorded, based on data provided by the state health departments.

According to the G1 update, there are already 167 deaths in the country by Covid-19. São Paulo is the state with the largest number (113) of fatal victims, followed by Rio de Janeiro (18).


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