14 million pounds were seized in the parallel currency market in Egypt

Egyptian media revealed that intensive security campaigns were being launched to arrest perpetrators of crimes of illegal trade in foreign exchange and dealing in the parallel market.
According to a report published in Egyptian newspapers, the security campaigns resulted in the seizure of new currency cases within 24 hours worth 14 million pounds, as part of the reports announced yesterday.
The efforts of the Public Security Sector, in coordination with the General Administration for Combating Public Money Crimes and the Security Directorates, succeeded in controlling various foreign currency trafficking cases.
According to the report, “This comes as a continuation of the security strikes against crimes of illicit trade in foreign exchange and speculation in currency prices by hiding them from circulation and trading them outside the scope of the banking market, due to the negative repercussions they represent on the national economy.”
The necessary legal measures were taken and the cases were presented to the Public Prosecution to initiate investigations.
Egyptian Interior Minister Major General Mahmoud Tawfiq stressed the continuation of the efforts of the ministry’s agencies to monitor markets and confront attempts to block or monopolize goods and manipulate prices, while intensifying efforts to control cases of illicit trade in foreign exchange and narcotic substances, stressing the necessity of confronting these practices decisively.