Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Egypt external debt rises despite risks: experts
The domestic public debt also increased to EGP 2.496tn as of the end of March, compared to EGP 2.016tn year-over-year.
Experts forecast further devaluation of Egyptian pound: CFA Society Egypt
On 3 July, governor of the CBE Tarek Amer alluded to a further depreciation of the Egyptian pound against the US dollar.
SME financing ramps up in Egypt
Small and medium-sized enterprises (SMEs) have aided Egypt’s economic recovery, but there is still room for improvement, says report by Oxford Business Group
Will CBE devaluate the pound on Tuesday?
The market awaits the launch of the first post-Eid dollar tender to learn the CBE’s direction
January 1899 saw the 1st Egyptian paper banknote, EGP 200 bill issued in April 2007
5 January 1899 saw the issuance of the first Egyptian paper banknote, while the first EGP 200 bill was issued by the Central Bank of Egypt (CBE) on 3 April 2007. The CBE owns a museum devoted to the history of the Egyptian currency, and on its website the CBE has a page documenting the …
Printing cash done in accordance to regulations, commitment to economic, legal measures: CBE
The annual growth of banknote issuance is usually proportionate to annual GDP growth
EGX expected to move between 7,050 and 7,300 points this week
EGX closed at 7,182.8 points on Monday, with a 2.88% increase.
CBE forced to issue new banknotes monthly due to low state resources, high expenditure: banking expert
The CBE has increased its issuance of banknotes since January 2011, due to annual increases of salaries, pensions, and compensations, in addition to the repayment of domestic debt’s benefits, says Hassanein
EGP 6.8bn increase in banknotes printed in March 2016: CBE
EGP 200 banknotes accounted for 52.1% of the total banknotes issued; EGP 100 banknotes registered 35.7%; EGP 50 banknotes were 8.73%, with lower rates for other denominations
Decline in oil prices causes $3.7bn decline in exports over 9 months: CBE
The global drop in oil prices has led to a decline in Egypt’s export proceeds by $3.7bn during the first nine months of fiscal year (FY) 2015/2016, according to the Central Bank of Egypt (CBE). In its balance of payments (BOP) report issued on Sunday, the CBE revealed that commodity exports have reached $13.4bn from …
$5.8bn in FDI recorded over first nine months of FY 2015/2016
The CBE said in a statement on Sunday that the net inflows to establish companies or increase capital of existing companies rose to $3.7bn from July 2015 to March 2016, compared to $2.8bn from July 2014 to March 2015.
$26m increase in CBE’s foreign exchange reserves in June
The value of gold included in the reserves increased to $2.602bn in June, compared to $2.513bn in May, an increase of $89m.
Balance of Payments registers $2.6bn increase in deficit over 9 months of FY 2015/16: CBE
The CBE said in a statement on its website on Sunday that the increase of the BOP deficit is ascribed to the increase in the current account deficit that registered $14.5bn between July 2015 and March 2016, versus $8.4bn year-on-year (y-o-y).
CBE to reveal its foreign exchange reserves this week
Debt repayment to Qatar and Paris Club countries is likely to impact reserves by the end of July
Government borrows more than EGP 1.1tn through treasury bills and bonds in FY 2015/16
Ministry of Finance reveals its intention to borrow EGP 317.5bn from banks in Q1/FY 2016/17
Banks ignore CBE’s interest rate increase
CBE will not keep current rates and may be reversed in three months, given their negative effect, says analyst
CBE governor claims report on IMF loan was incorrect
Reuters reported on Monday that Egypt is negotiating a loan worth $5bn; Amer denies to Daily News Egypt
Court suspends CBE’s decision to limit tenure of bank heads to 9 years
Tarek Amer, the CBE’s governor, issued a decision at the end of March limiting the tenure of bank heads to nine consecutive or intermittent years.
Banks keep ignoring CBE’s interest increase
Limited changes seen at NBE, Banque Misr, Banque Du Caire, and IDBE, although return on treasury bonds and bills was raised by 1%
ETTA extends deadline for banks’ complaints to Tuesday
Tourism income dropped to $6.1billion in 2015, compared to $7.3bn during 2014
Bond yields for 5-year term jump by 0.82%
Ministry of Finance cancels 10-year term bonds initially planned to be issued on Monday due to interest rate increase
Absence of coordinating council in decision to increase interest rates
The CBE’s accompanying report on the decision was issued without Al-Mashat’s signature for the first time in 11 years
Analysts expect EGX to overcome rise of interest rate by reaching 7,480 points
Analysts predicted that purchasing powers will be dominant during the trading session and push the EGX-30 index to reach 7,480 points amid weak trading volumes
Banks to hold meetings on Sunday on the fate of interest rates following CBE decision
Banks will watch the decision’s impact’s yield on treasury bills and bonds before deciding their interest rates, Abdel-Fattah
Increase in interest rate threatens ability to attract investments, wastes opportunities
The deflationary policy will increase inflation and production costs will climb, says Tawfik
Ambiguity mars CBE’s next move on EGP interest rates
The Central Bank of Egypt faces difficulty on inflation hike of more than 2% in May
CBE sells $120m to banks to release imported intermediate goods stuck in customs
El-Menilawy added that the CBE on Tuesday morning had asked the departments responsible for issuing letters of credit in banks to submit reports of the requests of customers whose intermediate goods are stuck in customs.
Local, international institutions offer to invest $915.4m in treasury bills
The bank auctioned $700m that will mature in one year’s time on 31 June 2017.
PBDAC awaits supervision by CBE to implement development plan: chairperson
The new law does not exclude the bank from Ministry of Agriculture supervision
Egypt’s foreign debt grows by $5.6bn at end of Q3 FY 2015/2016: CBE
The new figure marks an increase of $5.6bn (11.8%), the CBE reported