Latest in Tag: devaluation Highlight
Latest in Tag: devaluation
Recent devaluation of Egyptian pound against US dollar normal, temporary: banking pundit
Like all currencies worldwide, local currency bound to be affected by current exceptional circumstances
World’s deepest devaluation tempts foreigners back to Egyptian markets
Renaissance Capital calls Egypt “haventrade”
The best thing to do is to save your money at a fixed rate by investing in real estate: El-Shinnawy
We are committed to deliver high-end projects and a quality of that serves all family members: El-Shinnawy
Devaluation came on time, solved deferral payment problems due to lack of foreign currency: Nissan
The Japanese company Nissan, one of the top sellers in the Egyptian market, will participate in the third annual Egypt Automotive Summit to discuss the challenges currently facing the Egyptian market and what automotive companies will need from the government. Daily New Egypt interviewed Isao Sekiguchi, the managing director of Nissan Egypt, to understand …
Egyptian pound devaluation could cause heavy losses for customers with open currency position
Importers of medicines and commodities priced upon the US dollar’s official rate are the most affected; the government is facing the same problem
State of uncertainty over devaluation of Egyptian pound after president meets CBE governor
A senior banker ruled out any move by the CBE before 11 November
CBE fixes pound’s price against US dollar on Tuesday, market still awaiting devaluation
Possibility of launching exceptional auction completed ruled out for now, as the CBE wants to preserve foreign exchange reserves
Dollar crisis, Egyptian pound’s devaluation the best thing to happen in Egypt in past 3 years: Elsewedy Electric managing director
Despite the decline in the value of the Egyptian pound against the US dollar in 2016 and the inflation rate reaching unprecedented levels, managing director of Elsewedy Electric Company, Ahmed Elsewedy, believes that this is the best thing that happened in Egypt throughout the past three years. In his interview with Daily News Egypt, Elsewedy …
IMF deal would be credit positive for Egypt: Fitch Ratings
Government is explaining the importance of the loan to parliament, not concerned about high US dollar exchange rate, says finance minister
Motorcycle, bicycle prices rise by 20%, following devaluation of Egyptian pound
Prices of motorcycles and bicycles rose by 20%, due to the increase of the US dollar exchange rate against the Egyptian pound over the past three months, which has negatively affected sales during the summer. Gamal Abdel Nasser, head of the motorcycles division at the Cairo Chamber of Commerce, said that the increase in the …
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.
Potential devaluation of pound causes EGX30 to rise to highest rate in 4 months
The transactions of Egyptians and Arabs were net buyers, while non-Arab foreign investors were net sellers.
Egyptian pound devaluation negatively impacts Nissan Motor Egypt: Sekiguchi
Nissan Motors Egypt CEO demands that companies do not rush to increasing prices because of the devaluation
Basic interest rate raised by 1.5%
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided during its meeting Thursday to raise the basic interest rate by 1.5% on deposits and loans. The decision will increase the overnight rate to is 10.75% and the loan rate to 11.75%. The MPC also increased the deposit and discount rate by …
Pound devaluation shakes market
EGX-30 jumps by 6.7%, amid renewed hopes for FDIs and major concerns over inflation and budget deficit
US see stronger yuan as ‘key’ to China’s success
The US Treasury has soften its long-time stance that China’s currency is significantly undervalued, but said an appreciation of the yuan was crucial for a successful transition of China’s current economic model. In a semi-annual report to the US Congress released on Monday, the Treasury Department changed its wording on China’s currency, describing the value …
Depreciating EGP postpones foreign investments
Foreign investors are sure that the Egyptian pound will be devalued further
World stock markets post worst week of 2015
World stock markets have tumbled on concerns over a slowdown in China. The week ended with reports of more manufacturing gloom in China and investors moving to the safety of bonds and gold. In the US the Standard and Poor’s 500 index saw its biggest daily percentage drop in nearly four years on fears of …
Pound value depreciation continues, dollar reaches EGP 7.34
Dollar’s value increases to EGP 7.38 at NBE and Banque Misr
Dollar value rises to EGP 7.19, further 5% devaluation expected
Government faces pressure to combat black market before the March Economic Summit
Declining Egyptian pound threatens Saudi investments
Saudi-Egyptian business council tells Al-Eqtisadiah newspaper Saudi investments in Egypt will be negatively affected by declining pound
Assets plunge EGP 28.2bn end of March
Egypt’s net foreign assets fell to new low since President Mohamed Morsi assumed office last year
Rebel Economy
Guide to the end of the world (or explanation of currency devaluation)
Traders differ on impact of EGP devaluation
Exporters see an opportunity while importers see disaster in devaluation of currency
Egypt’s credit rating risks further devaluation
By Nasser Youssef Countries such as Egypt, who currently have a B rating need three years before their credit rating can improve Egypt’s credit rating could be downgraded once again if the country’s political situation does not improve, warned Nicholas Hardy, a representative from the Standard and Poor’s Credit Rating (S&P). He added that many …
USD exchange rate skyrockets
Few days after president ‘s statement that the Egyptian Pound will not be devaluated, the exchange rate of the US dollar rises against the Egyptian pound to hit its highest level since 2004