Latest in Tag: dollar Highlight
Latest in Tag: dollar
CBE to consider floating pound when foreign reserves hit $30bn
Actual value of imports amounts to approximately $90bn, in addition to smuggled goods worth approximately $9.6bn, says Amer
Egyptian economy will not be affected by dollar crisis: CBE Governor
Those who reject CBE’s decisions are “unpatriotic”; Egypt is the most profitable market for local and foreign investors, says Amer
Pound devaluation supports economy, promotes tourism, foreign investment: Prime
We should increase the supply of dollars and encourage Egyptians abroad to sell their dollar remittances to banks, says head of research at Prime
Further pound devaluation expected: Investment bank analysts
US dollar projected to strengthen to EGP 9.5, leading formal and informal markets to bond
In Cartoon: Devaluation of EGP and Dollar shortage
Inflationary wave hits markets after dollar value appreciates to EGP 9.15 in exchange offices
CI Capital has predicted a high average inflation rate, ranging between 11% and 11.5% in 2016 and Prime Investment expects the inflation rate will reach 10.8%
Manufacturers call for floating pound in exchange for providing dollar
The CBE’s decision will help increase exports and attract investments, says El-Sewedi
CBE bans foreign currency transactions at local points of sale
According to the CBE, this decision came in light of the discount made on transactions conducted at local POS in foreign currency at some commercial centres, through credit cards issued in local currency from local banks
Banks introduce restrictions on dollar use abroad
Banks have the right to limit dollar use, in light of the lack of foreign currency in the market, says banker
Dollar exceeds EGP 9 in Egyptian informal market for first time
Devaluation of the pound is not linked to import pressures, but a result of panic following leaked government budget and artificial inflation, says Al-Abyad
CBE cannot be asked to bear more than it can to solve: El-Kosayer
The CBE is not responsible for providing the dollar; it is responsible for managing foreign currency reserves and the exchange market
MPs call for banning dollar trading outside banks, increasing customs on imports
The price of the dollar on the parallel market has neared the EGP 9 mark, while it remains at EGP 7.83 in banks
CBE Deputy Governor clarifies regulators on dollar cap increse
Officers from banking operations expressed uncertainty regarding several features of the new CBE directive governing dollar deposits for import operations
Dollar loses 10-12 piasters in black market
Agreement on exchange firms supporting CBE’s efforts to control exchange markets and banks obtaining Arab currencies in exchange for dollar
Bank of Alexandria launches campaign to encourage exchange of dollar remittances
We are continuing in our efforts to increase foreign currency inflows and support the Egyptian economy, says executive board member
CBE’s decision to raise cap on dollar deposit will not mitigate liquidity pressures: Moody’s
The CBE decision included high-priority products, such as pharmaceuticals, production inputs, raw materials, food, and industrial machinery, excluding other luxury goods.
CBE’s decision to raise dollar deposit cap ineffective in bolstering import market: Sheha
The dollar reached EGP 8.6 on the black market
Raising dollar deposit cap is unlikely during current period, our target is to purify imports: Salman
Imports, which are not committed to international import requirements, are valued at $9bn, says source in Ministry of Industry
Government sought to decrease $60bn bill by ‘banning luxurious products’
Around $26bn of Egyptian imports are categorised as “essential”
Pound lost 9% of its value against dollar in 2015, retreat to contine in 2016
The dollar’s value rose from EGP 7.18 in January to EGP 7.83 at year’s close, exceeding the level of EGP 8 through 2015
‘Euro’ and ‘dollar’ highest growing financial search terms on Google
The word “gold” makes up 40% of financial searches online
US Federal Reserve’s increase of dollar interest rates not reflected on Egyptian savings certificates
Meanwhile, the interest rates on dollar deposits in some banks increased at a rate ranging between 0.125% and 0.25%.
Will CBE succeed in pushing banks to increase dollar resources?
Banks made large profits; it is time to pay part of these profits’ bill and help overcome this crisis: Abdel-Aal
Banks criticise CBE’s FX Auction regulations
The regulations were a new shock to banks that did not obtain dollars from the CBE
Banks fail to receive their share of CBE dollar auction
It maintained the exchange rate of the dollar against the pound at this periodic auction at EGP 7.73, which led to stabilising the dollar price at banks at a bidding price of EGP 7.78 and an asking price of EGP 7.83.
CBE unable to meet EGPC’s dollar requirements
EGPC acquired $160m in October instead of $700m, says official
CBE to inject $1bn after new governor officially takes office
Last week CBE issued $1bn as part of bank’s plan to flood the market with a total of $4bn to meet the requests for foreign currency in import contracts
Attractive saving certificates with dollar deposits to remove restrictions on foreign currency: Pharos
These certificates can be bought in dollars and other foreign currencies, with interest being paid in Egyptian pounds, in a move aimed at providing foreign liquidity to the bank.
Tourism sector awaits bank approvals to grant dollar loans for replacing, renewing building operations
Loans to be received in pounds and repaid in dollars; we are awaiting a reply within two days, says Tourism Investment Association head
Temenos plans will launch electronic platform to enable banking sector apps
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