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Egyptian gold rush as banks reopen

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Egyptian gold rush as banks reopen


Banks across Egypt opened for a few hours Sunday morning for the first time in more than a week.

The Central Bank used military cargo plans to supply branches with than 600 million euros worth of cash.

In Cairo’s business district people were queuing way before doors opened.

But limits were placed on withdrawals of Egyptian pounds and foreign currencies to prevent a run on funds. And many banks and businesses did not open at all.

Despite that, one man remained defiant.

“We’ll back the revolution until the very end, even if my children suffer, even if I don’t work, even if I lose everything,” he said. “I don’t want to go back to the way it was before. We’ll carry on like this until change comes – and it will come that’s for sure.”

Egypt’s stock market is still expected to open during the week although not on Monday as had been planned.

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