The new benchmark, the Cairo Overnight Interbank Average (CONIA), was developed by the Egyptian Money Market Contact Group (MMCG), which brings together the central bank, commercial banks and the European Bank for Reconstruction and Development (EBRD). The Central Bank of Egypt has launched CONIA, a new RFR benchmark, as it seeks to support the development of a more efficient domestic money market. In an effort to boost Egypt’s economy, the central bank is launching a benchmark for its currency, which will be used in all transactions and transactions.
The Central Bank of Egypt has launched CONIA, a new RFR benchmark, as it seeks to support the development of a more efficient domestic money market. In an effort to boost Egypt’s economy, the central bank is launching a benchmark for its currency, which will be used in all transactions and transactions.