Latest in Tag: currencies Highlight
Latest in Tag: currencies
Egyptian pound appreciates 30 piasters against US dollar in 2020 despite COVID-19
Local currency is likely to see further gains against US dollar in 2021
US dollar inches down as Trump signs coronavirus relief package
US dollar bought 103.83 Japanese yen, higher than 103.57 Japanese yen of the previous session. It was down to 0.8896 Swiss franc from 0.8903 Swiss franc
EU sets sights on virtual currencies
European leaders have agreed to step up their controls of virtual currencies such as bitcoin and other anonymous payment methods they suspect Islamic State and other terrorists use to finance attacks. Online or electronic payment methods that could easily be used to finance terrorism or launder money will soon be subject to tighter regulations within …
Depreciating EGP postpones foreign investments
Foreign investors are sure that the Egyptian pound will be devalued further
Egypt left vulnerable after Qatari snub
By Farah Halime It was bound to happen sooner or later. Egypt has returned to Qatar the $2bn the Gulf state deposited in Egypt’s central bank after negotiations to convert the money into three-year bonds failed. Though this represents only a quarter of the total funds Qatar has lent or given to Egypt, the decision …
Egypt’s biggest oil debts
By Farah Halime, Rebel Economy Egypt’s state oil company, the Egyptian General Petroleum Corporation, is in big trouble. It has racked up billions of dollars of debt in the last decade with some estimating its dues to banks and oil companies is as high as $20 billion. The magnitude of EGPC’s debts is such …
Exchange rate of USD reached a new peak
The price of U.S. dollars in Egyptian pounds reached record rates last Sunday. The exchange rate increased at exchange to EGP 6.07 for buying and 6.08 for selling for the first time in 7 years, compared to 6.06 for buying and 6.07 for selling the day before, according to the Central Bank of Egypt (CBE). …