The Central Bank of Egypt (CBE) on Tuesday cancelled cap on deposits and withdrawals in foreign currency for companies.

The decision is applied to companies operating in the domain of import of non-essential commodities.

The Bank had taken in 2012 a decision imposing a ceiling for deposits and withdrawals for companies operating in importing non-essential goods at a rate of 10,000 dollars a day and a cap of 50,000 dollars in deposit and 30,000 in withdrawal per month.