Commercial International Bank and other financials lift Egypt's main index to a 1 percent gain, a day after the central bank cut its reserve requirement on local currency deposits, traders say.
The central bank said on Tuesday the requirement would be lowered to 12 percent from 14 percent, in a move aimed at providing banks with more cash to lend to the government and to businesses.
CIB, Egypt's biggest private bank by assets, jumps 3 percent and investment bank EFG-Hermes adds 1.8 percent.
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