Within a week, which saw investors nervous scramble gold, a hole from traditional bolt in times of uncertainty, Hisham Ramez also told Reuters Central Bank reserves were strong at $36bn, banks were liquids and any capital by foreign investor flight "hot money" would be short-lived.
The Egypt has endured for five days of often violent demonstrations with people on the streets, demanding the resignation of President Hosni Mubarak, which imposes a dusk to dawn curfew and ordered tanks in the streets to restore order.
Ramez said banks close on Sunday, adding: "it is just a precaution until banks are ready to start work on Monday."
He did not comment disorders.
Market stock of the Egypt, which dropped by 16pc in two days after the unrest erupted, is also closed Sunday. The Egyptian pound dropped to bottom of six years.
"It is obvious that the Central Bank was concerned an important Bank panics and foretelling on what they expect to happen in the coming days." It is a close to paralysis, said John Sfakianakis, an economist at the Saudi Fransi-Credit Agricole Bank.
Ramez said that while there might be a short-lived capital flight, the Central Bank and other banks Egyptians were in a position of strength and he was comfortable with reservations.
"All accounts are safe." Liquidity is here. Banks are liquid. Customer accounts are safe. Everything is in order. "We have no problem", he said.
"We're ready." "Our reserves are very strong," he said, adding that the Bank had not intervened, the currency market last week.
We're very comfortable"with reserves, he said.
Asked about the possible risk of capital flight, he said: "perhaps for a short period for foreign investors, for the"hot money", Yes. I think that things will soon be in order. »
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