Egypt’s central bank eased restrictions on dollar cash deposits blamed for exacerbating a foreign-currency shortage that has threatened the country’s economic recovery. The bank raised the monthly limit to $250,000 from $50,000 for importers of food, machinery, spare parts, capital goods and medicine, according to a statement posted on its website. It removed a daily ceiling for the same group of importers as long as they don’t exceed the monthly cap. The central bank kept the $50,000 monthly limit in place for individuals and other types of companies. Under Governor Tarek Amer, who took charge of the central bank in November amid a national debate on currency policy, authorities have taken steps to bolster confidence in the Egyptian pound, including repaying foreign portfolio investors and introducing tighter regulations on imports. The dollar deposit restrictions were introduced by Amer’s predecessor to crack down on black market trading.

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