Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Central Bank of Egypt establishes âLong Live Egypt Fundâ to support economy
Fund will use account number 037037 in reference to the date of former president Mohamed Morsiâs ouster
Egypt to offer $600m in dollar-denominated treasury bills
Eligible subscribers from local and foreign banks will access t-bill, CBE says
Restored confidence in Egyptâs economy to improve currency exchange rate: CBE
Deputy Governor of Central Bank says stimulating national economy, working on bank performance, and keeping pace with international developments are top priorities
Foreign reserves fall $200m
International foreign currency reserves record $17.28bn in May, down from $17.48bn in April
Domestic public debt rises to 83.3% of GDP in first quarter of 2014: CBE
Central bank reports estimates net external debt rose by 5.8%, as a result of increased borrowing and higher exchange rates against the dollar
Egyptian pound continues to depreciate against US dollar
The value of $1 stands at EGP 7.16 on 22 May, compared to EGP 7.083 before CBE exceptional auction
Bank of America expects continued EGP depreciation
EGP value against dollar slumps after CBEâs foreign exchange auction to record EGP 7.14 comparing to EGP 7.083 before the auction
CBE sells $1.1bn to banks in âexceptional auctionâ
Banks are required to apply with the amount of US dollars needed as per their clientsâ import needs, the bank says
MENA monetary policy is expansionary and will remain so: Emirates NBD
Egyptâs credit grew 20.7% year on year in January
Loan assets in banks increased by EGP 3.6bn in February: CBE
Central bank says loans granted to the government slumped by EGP 739m, while amount loaned to non-governmental sector increased by EGP 4.39bn
CBE keeps interest rates on hold for third consecutive time
Bank says decision aims to balance increasing annual inflation rates, sluggish economic activity, low investment levels and negative GDP outlook
Egyptian Gulf Bank gives EGP 300m to low-income housing project
The bank is one of several supporting the construction of 10,000 housing units for low- and middle-income Egyptians under a Central Bank of Egypt initiative
Egyptian pound weakens at C.Bank dollar sale, on black market
Reuters – The Egyptian pound weakened at a central bank dollar auction and on the black market on Wednesday after hitting a six-month low last week. The central bank sold dollars at a cut-off price of EGP 6.9652, leaving the pound weaker than at its last auction on Monday when the rate was EGP 6.9649. …
Faisal Islamic Bank to participate in CBE housing initiative
Bank chairman meets prime minister to discuss industrial, urban and economic development projects
Inflation rate eases to 10.2% in February: CAPMAS
Monthly inflation fell to 1% in February
Egyptian banks to bid 8,000 housing units: Minister of Housing
Mostafa Madbouly coordinates with Egyptian banks to enact the central banks initiative to aid low-middle income individuals.
The United Bank participates in CBEâs mortgage funding initiative
The United Bank has joined the Central Bank of Egypt in a scheme that aims to boost Egyptâs economy and real estate market by refinancing mortgage customers at discounted prices. According to Reuters, the central bank said Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects. The money will be deposited to banks, …
Central Bank of Egypt earmarks $1.44bn for low-cost housing
Reuters – Egyptâs central bank said on Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects, one of the demands in protests that led to the ouster of autocratic President Hosni Mubarak in 2011. Better living conditions, an end to official corruption and more democratic rights figured prominently in those protests. About half …
Foreign reserves up for the first time since August
Net international foreign reserves register $17.105bn in January
CBE offers up $1.5bn to banks in exceptional auction
Auction aims to support banks and their role in domestic economy, central bank says
CBE leaves key overnight rates on hold
Reuters – Egypt’s central bank kept its official interest rates on hold as expected at a monetary policy committee meeting on Thursday, as the government tries to stimulate the economy while keeping inflation in check. Egypt’s economy has been battered by three years of political instability since a popular uprising ousted autocrat Hosni Mubarak in 2011, causing tourists and …
Foreign reserves drop to $17bn
International foreign reserves fall for the fourth consecutive month
Finance minister discusses current economic situation and challenges for next government
Galal discloses that the CBE has held onto a $9bn deposit since the 1990s, which the government will use to finance its two stimulus packages
Foreign reserves fall to $ 17.76bn
Net foreign reserves drop for the third month in a row to reach their lowest levels since July
Egyptian pound up at dollar sale, black market rates lower
The central bank said it sold $38.8m to banks at its auction, at a cut-off price of EGP 6.8773 to the dollar, compared with 6.8774 at a sale on Thursday.
Annual inflation reached 11.15% in October: CAPMAS
The urban consumer inflation rate rose to 10.4% in October
Interest rates remain fixed as inflation rises: analysts
Central Bank decision to maintain interest rate was expected by analysts in order to curb inflation and save the deposits of family sector in banks
Kuwait extends Egyptâs time frame to repay $2bn deposit to five years
This decision will help Central Bank of Egypt to take long term decisions: Expert
Foreign reserves decline to $18.7bn
$200m drop between August and September
Net foreign reserves surge to $18.91bn
Around $34m increase between July and August 2013