Latest in Tag: dollar Highlight
Latest in Tag: dollar
Demands continue for dollar liquidity for imports
CBE has pumped $4.8bn in liquidity since the start of 2015
CBE continues pumping dollar liquidity to cover banks customers’ foreign currency demands
The CBE granted the banks $98.6 in an auction launched Sunday
Revenue of dollar bonds sold by Egypt is convenient: Analysts
Covering bonds worth $1.5bn was raised by Egypt in foreign markets three times
Dollar exchange rate forces increased automotive prices
Sector workers cannot keep up with increase in taxes and customs
CBE decreases issuance of weekly FX auctions
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.
CBE reduces commission of credit letters to facilitate imports
Egypt’s imports face decrease, suffer from dollar shortage, says Chief of Importers Division
Build better roads to feed more people
By Dr. Bjørn Lomborg Almost one-quarter of all food in the world is lost each year, from harvesting and storage to wastage in the consumer’s kitchen. In sub-Saharan Africa, about 21% of all food is wasted. If we could halve the sub-Saharan waste, we could feed an extra 100 million people. We can expect almost a …
IMF Middle East and Central Asia director welcomes CBE dollar policy
The IMF is alert to the formation of growth and relating it to work and life standards, without merely looking into the total figures
A deal CBE to open an overdraft account in dollars to release imported goods: Mohamed Al-Suwaidi
The CBE needs to improve the way it deals with the dollar crisis
Motivational economic reforms, legislations insufficient: Officials
The government considers with economic decisions and actions serve the foreign investor only, without considering the local investor, Holding Company for Spinning and Weaving member
Bilateral Agreements with Russia: Elimination of the US dollar
By Ahmed M El-Wahsh In light of recent events and happenings across Cairo – from the Tahrir memorial to the deaths at the Air Defence Stadium and Vladimir Putin’s visit – Egypt faces an unsettling currency change against its Egyptian pound to the American dollar. With that being said, the Russian leader met with Abdel …
CBE approves tourism ministry request for currency exchange with Russia: Official
EGP devaluation against US$ pushed for request approval in order to overcome crisis of decrease in Russian tourism
US ‘does not believe’ Egypt and Russia will end dollar usage
State Department spokesperson Jen Psaki says US supports nuclear power programme under Nuclear Nonproliferation Treaty
Following deposits’ ceiling, dollar to remain stable until March summit: Officials
CBE placed ceiling deposit of $10,000 per day and $50,000 per month
Dollar stable at EGP 7.53 at CBE, EGP 7.63 at NBE
Rate ranges between EGP 7.8 to EGP 8 in unofficial market.
Steel companies anxious about market fluctuations: Experts
Companies keep prices stable, waiting for economic improvements
$1 reaches EGP 7.47 on official selling market
CBE’s Monday dollar auction ended with $1 standing at EGP 7.43
Dollar to reach EGP 8 by the end of June: Emirates NDB
Depreciation can happen at a faster pace, the bank says
Pound value depreciation continues, dollar reaches EGP 7.34
Dollar’s value increases to EGP 7.38 at NBE and Banque Misr
EGP exchange rate drops against dollar
Dollar exchange rate is up 10 piasters in 2 days in Egyptian banks following latest auction by CBE on Sunday to sell $40m at EGP 7.1901 per dollar
Dollar value rises to EGP 7.19, further 5% devaluation expected
Government faces pressure to combat black market before the March Economic Summit
Weekly dollar bids rise to four times a week
CBE is set to raise dollar bids worth a total of $160m instead of $120m
State of the currency exchange market
On the black market, the lowest selling price for the US dollar was EGP 7.15 while the highest prices ranged between EGP 7.57 to EGP 7.59.
Cars prices in Egypt grow amid consumer frustration
Car experts blame high US dollar exchange rates and popular demand for fuel saving cars for increase
Domestic public debt rises to 83.3% of GDP in first quarter of 2014: CBE
Central bank reports estimates net external debt rose by 5.8%, as a result of increased borrowing and higher exchange rates against the dollar
Egypt business activity shrinks in May: PMI
Reuters – Business activity in Egypt shrank for the third month in a row in May, a poll showed on Tuesday, in a sign the economy remains fragile as former army chief Abdel Fattah Al-Sisi is set to become the country’s next president. Egypt’s economy has been hit by more than three years of political and …
Sabahy’s bottom dollar bet
By Johannes Amin Makar For some time, a bit of an insane mind seemed requisite for one to enter the presidential race in Egypt. Various indicators contradicted a fair battle, and for many, contesting Al-Sisi had everything of a nutty business. The sanity claim appeared to be honoured when the little credible Mortada Mansour announced his …
Egypt pound weakens at Central Bank’s dollar sale and on black market
Reuters – The Egyptian pound weakened at a central bank dollar sale and on the black market on Monday, after hitting a six-month low last week. The central bank said it sold dollars at a cut-off price of 6.9702 pounds, weaker than the rate of 6.9651 pounds at its last sale on Thursday. Banks are …
Egyptian pound strengthens at central bank Forex sale
Reuters – The Egyptian pound strengthened at a central bank dollar auction on Monday after hitting a six-month low last week. The central bank sold dollars at a cut-off price of EGP 6.9649, slightly stronger than the EGP 6.9651 at its last auction on Thursday. But the dollar sold on the black market for EGP …
Egyptian pound weakens at Central Bank dollar sale
Dollar shortages have been fuelling a thriving black market.