Latest in Tag: dollar Highlight
Latest in Tag: dollar
Dollar bonds to be issued January-February 2018, IMF delegation to visit Egypt in late October
31.8% growth in tax revenues by end of June 2017: Finance Minister
CBE covered dollar needs worth $49bn since flotation
Dollar liquidity is directed to foreign trade financing and foreign companies’ reparation of funds
Falling inflation should pave way for prolonged monetary easing cycle: Capital Economics
Fuel prices need to increase by an additional 140% by 2018/19
Unstable dollar price behind fluctuation in banks’ deposits, loans after flotation: CBE
Most banking indicators experience a rise and fall every month because of revaluation of assets in foreign exchange
Depreciation of customs dollar to EGP 16.25 after four month of stabilisation
Four months of stabilisation in the value of customs dollar at EGP 16.5 due to the stability of the dollar price in banks
Ministry of Tourism is betting on increasing expenditure rate by year end to reach $85 per person
This spending rate is still weak compared to the other tourist destinations competing for Egypt, including Dubai, for example, as the average spending rate of tourists per day is $180, which is a big difference between the two countries: according to an official
Pound strengthens due to market supply and demand mechanism: Amer
The CBE governor told the president that the bank didn’t intervene to support the local currency
Egypt foreign reserves reaches $31.305 billion in June; Pound steady
The reserves records 29% increase since the beginning of 2017
Egyptian pound shows signs of correction: Beltone
Total outstanding liability to register at $7.6bn and $12.2bn in FY 2017/18 and FY 2018/19 respectively
CBE to remove dollar deposit limits over upcoming months: IMF
The fund’s board votes on the Egyptian economy’s first review within weeks
As raw commodity prices accelerate, food companies likely to reprice products
Milk powder prices hover around 5-years high, sugar rises 7.5% in 2 months
Egypt’s foreign exchange reserves reach new high since March 2011, thanks to new dollar bonds
The foreign exchange reserves increased to $31.1bn at the end of May compared to $28.6bn in April
Worst week for dollar since Trump election
The greenback has been on track to record its worst week against a basket of major currencies since July. The slump was caused by political uncertainties surrounding US President Donald Trump.After a series of gains following the inauguration of Donald Trump as US president, the dollar slumped to its lowest index in 10 months on …
Banque Misr negotiates with international funding institution to obtain new dollar debt: bank’s chairperson
The bank signs a loan agreement with CDB for $500m during its participation in the Silk Road Conference
Egyptian community calls upon Al-Sisi to hold meetings with its members
“We need measures to establish US dollar joint stock companies to invest in the 1.5 million feddans project”
GDP growth to slow, reach 3.9% in FY 2017/18: World Bank
Growth expected to accelerate to 4.6% in FY 2017/2018 and 5.3% in FY 2018/2019
Strong dollar threatens Trump’s trade goals
Donald Trump ran for President pledging to narrow US trade deficits. But a strong dollar is working against him – it makes US exports less price-competitive globally, and foreign goods cheaper in the US.Trump acknowledged that the strong dollar would undermine US exports and help foreign exporters sell more goods in the US in a …
The main economic results of wider US involvement in Syria
Egypt is likely to participate in any conflict in the region, and there are different opinions regarding the possible effects it would have on Egypt and the region.
Dollar to reach EGP 15 by the end of current year: FEI deputy chairperson
Lack of dollar led to the reluctance of companies to increase their production capacity, says Tawfik
Customs dollar brings back the auto sector to recession
Sources expect unprecedented price increases on new models
Bank Audi Egypt settles all dollar debts resulting from currency difference after flotation
We had a few companies with debts of more than $5m, whose positions have already been setted, says Fayed
US Dollar loses 10 piastres during Thursday transactions
The US dollar exchange price index slipped against the Egyptian pound in 11 banks during Thursday tradings/transactions, at rates ranging from 5 to 15 piastres, after a significant increase pushed the exchange rate to the level of EGP 18.26 at the end of Wednesday. The dollar declined by 15 piastres in the Arab Investment Bank, …
Customs’ dollar price would match the market’s price: El-Monayer
The decision to keep the price stable for 15 days is important for a more stable market
The future of product prices is unpredictable
Experts, businesspeople, and investors remain unsure about whether the prices will be hiking or dropping in the future
The informal market returns to scene of US dollar crisis
USD price at banks stood at EGP 17.55 to buy, and EGP 17.70 to sell
Volatility of FX rate hiked mobile phone prices over one year
Companies resorted to the black market to secure their pre-flotation US Dollar rate
Customs dollar rate to go down in March: finance minister
The rate will be set at EGP 15.75, starting on Wednesday and lasting for 15 days, says El-Garhy
Strong fluctuations of pound against the dollar over the upcoming period
The dollar’s rate ranging between EGP 14 and EGP 15.5 achieves the required balance, further decline will not serve the state’s interests, says Abdel Aal
No waiting lists for dollar, we provided $71bn since November 2015: CBE Governor
Egypt will pay $1.5bn of foreign oil companies arrears in 2017
EGP exchange rate against USD remains stable
Settles below EGP 16 for first time since December 2016