The Central Bank of Egypt (CBE) aims to reach lower inflation rates on the medium term, CBE Governor Tareq Amer said.

The exchange rate of the local currency has reached a rate balanced between supply and demand and the CBE has been targeting employment to avoid unemployment and growth slowdown, Amer told MENA on Sunday.

The bank has allowed the transaction of the currency freely after a set of restrictions imposed on its deposit in banks, which helped in the flow of foreign and domestic trade, he said.