Latest in Tag: dollars Highlight
Latest in Tag: dollars
Central Bank of Egypt receives 24 bids worth $540.6m for T-bills in US dollars
Proceeds of this tender will be used to pay for previous tender launched by CBE on 9 June 2020, for which it obtained $509.3m
Will Turks heed Erdogan’s calls to sell dollars and buy liras?
Turkish leader Erdogan has recently called on his compatriots to convert their dollar and euro savings into lira. But economist Per Hammarlund says many Turks will continue to save in dollars and other hard currencies.The Turkish currency has plunged by about 20 percent against the dollar since the start of the year. It pared back …
Egyptians invest their dollars into real estate, pushing prices up 40% since flotation
Demand keeps growing despite unjustified price hikes, says head of Building Materials Division
Green Valley demands EgyptAir collect fees in pounds rather than dollars
Green Valley Company for import and export aims to increase its exports of agricultural crops to 8,000 tonnes this year, compared with 4,000 tonnes in 2016, to compensate for the increase in the cost of production and to take advantage of the liberalisation of the exchange rate. Ahmed Yousry, the company’s chairperson, said Green Valley …
Market sees high sales volume of dollars, new saving certificates at banks in 2nd week since flotation
The amount of dollars Banque du Caire received in one day is equivalent to a full month’s worth of dealings previously, says chairperson
Large portion of dollars in banks since Monday come from customers switching saving schemes to Egyptian pounds: prominent banker
High expectations that foreign currency deposits will decrease while Egyptian pound deposits will increase by end of the month
Chinese finance institutions immerse into Egypt’s economy, pump dollars into market
86 Chinese companies have invested more than $1.1bn in the Suez Canal area, says CCTV
Finance Ministry to choose 4 investment banks to offer dollar bonds abroad
Final decisive selection of the list will come today
New exchange rates drive up Egypt Duty Free revenues by 13.7% despite tourism slump
Egypt Duty Free’s activity is influenced greatly by the movement of foreign currencies against the Egyptian pound, especially the US dollar and the euro as importing goods—such as electrical appliances, alcoholic beverages, and perfumes—is done in these currencies.
Black market in dollars and diesel thrives at Libya’s cost
Like much else in Libya, the financial system has broken down. Corruption is endemic throughout the economy, while smuggling hard currency and diesel have become lucrative businesses. Nancy Porsia reports from Tripoli.
Local, international institutions offer to invest $1.168bn in treasury bills
The bills’ interest rate saw a 40 points increase compared to CBE’s last auction in December
Official instructions on converting importers’ debts not yet received: Banks
A prominent banker told Daily News Egypt that banks operating in the Egyptian market have not yet received any official or written instructions to convert the debts of their importing clients from dollars to Egyptian pounds.
CBE to convert $4bn worth of dues on importers to local currency
Tarek Amer holds frequent meetings with public bank heads to discuss developments in the foreign exchange market and to solve the problems they face
Egypt’s foreign reserves lose $1.76bn in September
International reserves record lowest level in 1.5 years
CBE to resume issuing dollar sale tenders to banks Tuesday
Stability of US dollar rate against Egyptian pound stands between EGP 7.78 and EGP 7.83 in banks and at EGP 7.88 at exchanges
Arsenal gains millions of dollars in profits
Arsenal investments in its players is considered the major means by which the club achieves profits, keeping it from falling into debts, unlike many other English League clubs.
Government to add, amend investment laws: Salman
Amendments include investor equality, facilitation of market entry and exit in dollars, and expedited bankruptcy procedures
Wheat inventories sufficient for 10 months
Government officials announced that Egypt’s current overall wheat inventories will cover the remainder of 2013. The country, however, still struggles to secure enough foreign currency to continue importing wheat
Ministry of Finance borrows dollars for support
Banks had offered liquidity in dollars to the Ministry of Finance