January 10, 2013 / 6:30 PM / in 5 years

New Egypt c.bank chief says not concerned about currency market

CAIRO, Jan 10 (Reuters) - Egypt’s incoming central bank chief Hisham Ramez said on Thursday that there was no need to be concerned about the situation in the currency market, saying the bank had “all the tools” to intervene if it saw speculation.

“We are looking at prices constantly,” he told reporters in Cairo shortly after he was named as the new central bank governor. “The situation is not out of control. There is no cause for concern.”

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