Includes how foreign exchange is managed and implications for U.S. business;Last Published:8/9/2019Foreign exchange regulations fall under Law No 88/2003. According to this law, individuals and businesses can hold foreign currency in Egypt and can have local bank accounts denominated in foreign currency. Individuals can buy foreign currency and transfer it abroad. Any individual or business can engage in a foreign currency transaction but must use banks or foreign-exchange bureaus that are licensed to trade in foreign currencies. The banks and foreign exchange bureaus all submit statements of all their transactions to the CBE, which ultimately controls all foreign exchange transactions. Banks have been giving priority to imports of “essential” goods. Commercial transactions must be supported with specific documents to justify the transfer. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.