Latest in Tag: dollar Highlight
Latest in Tag: dollar
Prices of food items ‘increased’, minister promises control
Food prices will not increase following dollar rise, Hanafy says
CBE governor claims responsibility for reduction of pound’s value against dollar
In a meeting with the CBE deputy governor and various banking officials, Amer reaffirmed the Egyptian central bank’s role in navigating the Egyptian economy
In Cartoon: Floatation of Egyptian Pound
CBE sells $1.5bn to cover portion of temporary credit facilities to importers
Banks are required to redeposit amounts obtained in the CBE auction with a 1.23% yield over one year
The automotive sector’s shaky road
The Egyptian automotive market can be described in three terms: “suffered, suffering and will suffer”. All the associated parties in the automotive market, including manufacturers, agents and dealers, are familiar with this situation. Those words reflect the internal state of fear, anxiety and confusion that hovers on the horizon. Nobody knows what awaits tomorrow. None …
In Cartoon: It is only up to CBE !
Is the CBE the only player to blame for the dollar crisis?
In a recent press conference, prominent economist and chief economic adviser at Allianz Mohamed Al-Arian warned that the country is risking over-dependence on the CBE to make the country’s monetary decisions.
CBE to hold exceptional $1.5bn auction
CBE sold $200m to banks operating in the local market at rate of EGP 8.85 per dollar, through an exceptional tender, to cover the demand of food commodities importers
Expected increase in price of spare vehicle parts in coming months
Prices have not yet been affected as the quantities currently in the market were imported before the customs increase
Dollar crisis casts shadow on used-car sales and supply
Used-car prices increase by 30% to 40% amid limited imports of new cars
NBE, Banque Misr issue CDs with 15% yield
The NBE and Banque Misr will issue the CDs beginning on Monday for a period of 60 days, according to El-Etreby
Expected increase in price of computers, tech products after raising dollar price
Price rise a positive step if price fixed and dollar enabled, says Mansy
Next fiscal year’s budget returned to government by parliament after partial floating of pound
Finance Ministry targets a deficit of 10.5% for the next fiscal year, compared to a target of 8.9% for this year; CBE’s decision will aggravate the deficit to 11.5%
CBE devalues EGP amid concerns over inflation and budget deficit increase
The decision is expected to have far-reaching repercussions on the deficit and inflation of the state budget
CBE raises price of US dollar to EGP 8.85
Banks will sell US dollars at EGP 8.95, up from EGP 7.83
US dollar declines to EGP 9 in informal market
Banks await fresh dollar liquidity to be injected through exceptional CBE auction
Amer condemns media for promoting exaggerated dollar prices in informal market
We cannot consider the process of dollar trade outside the banking sector and exchange firms with trustworthy prices, says Mohamed Abdel Aal
Private banks discuss protecting dollar liquidity after launch of high-interest CDs
The CBE is widely projected to raise basic interest rates by 0.5-1 percentage points next Thursday to shore up the pound
In Cartoon: money for the poor!
Price of dollar dropped to EGP 9.70 in informal markets Wednesday: Al Abyad
Dollar price may be dropped again to EGP 9.30 next Sunday, chairman predicts
CBE removes limits on foreign currency deposits and withdrawals for companies importing goods and basic products
CBE’s new decision was put into practice on Wednesday 9 March
Unflagging EGP decline threatens Egypt’s economic growth
US dollar is forecasted to break EGP 10 threshold
Government banks issue domestic US dollar bond certificates and prepare international euro bond certificates
NBE, Banque Misr, Banque du Caire will offer three-year certificate to Egyptians living within the country and five-year certificate to those living in Europe
EGX-30 closes with 0.5% surge, unaffected by CBE’s decision
Analysts argue that positive news would encourage investors to buy
Floating pound would resolve eroding dollar reserves, but it is not feasible: EFG Hermes
Our expectations for economic growth in the current fiscal year align with government predictions, placed at between 4.2% and 4.5%, says Shams
In Cartoon: Dollar continues to rise against EGP
NBE, Banque du Caire, Banque Misr to accept subscriptions of Egyptians expats to ‘Bilady’ dollar certificate starting Tuesday
Minister of Immigration and Egyptian Expatriate Affairs Nabila Makram said that the bond certificate is a response to calls from Egyptians living abroad to have a high yield bond certificate that can also bolster Egypt’s economy
Steel price expected to reach EGP 6,000 next June owing to dollar revaluation
Dollar crisis to affect real estate sector leading to at least 20% increase in price of housing units, said Abdallah
Egypt to put forward dollar savings certificates for Egyptians abroad within days
NBE, Banque Misr approachs completion of details to avoid defects of Egyptian dollar certificate
Immigration Ministry prepares media campaign to promote dollar portfolios for Egyptian expats
Makram negotiates with Ministry of Social Solidarity for compulsory insurance umbrella for Egyptian expats next week