Egyptian banks have managed to attract USD 3 bn since the central bank moved to float the EGP earlier in November, CBE sub-governor Tarek Fayed said, according to Reuters. Fayed said the flotation helped attract foreign currency back to the banking system, explaining that “the central bank’s decisions could not have been delayed more than this and the results over the past two to three weeks were positive.” Banque Misr’s Vice Chairman Akef El Maghraby corroborated Fayed’s statements, saying his bank alone managed to attract USD 400 mn since the EGP float.