Latest in Tag: EGP Highlight
Latest in Tag: EGP
CBE postpones decision regarding EGP interest rate to negotiate with coordination council
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
Dollar devaluation against EGP to contribute in paying-off importers bills: FEI head
CBE provided $1bn from a total of $4bn to meet the requests for foreign currency in import contracts
Dollar officially stable at EGP 8.03, experts expect it to stay fixed until end of 2015
Parallel market confusion amid the decline of the dollar in anticipation of new CBE governor’s decisions
CBE will discuss future of interest rate on EGP
According to analysts, MPC is highly expected to keep the major interest rates at CBE unchanged for the sixth consecutive time during its meeting decided set for Thursday.
Depreciating EGP postpones foreign investments
Foreign investors are sure that the Egyptian pound will be devalued further
CBE stabilises dollar price after 2 increases
Dollar will increase again, and the stable price is temporary, analysts say
Government limits collection of value of commodities, services to EGP: Cabinet
Prohibition does not apply to tourists in Egypt, said Cabinet spokesperson
Petroleum Ministry denies airline request to pay for fuel in EGP
Airlines exempted from paying in dollars for a year, import burden disallows continuation, says El Molla
Egyptian pound plunges against the dollar to EGP 7.46
The US dollar exchange value jumped to EGP 7.5 at NBE and Banque Misr
Pound value depreciation continues, dollar reaches EGP 7.34
Dollar’s value increases to EGP 7.38 at NBE and Banque Misr
Low value of EGP enhances investor appetite
Market analysts expect better foreign investor purchases and higher inflation rates
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
Private business accounts for 63.2% of credit facilities end of March: CBE report
Central bank announces 2.6% increase in total credit facilities
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 …
EGP weakens at forex auction
The Central Bank sold $38.6m to banks at the auction, with a cutoff price of 6.8869 pounds to the dollar, weaker than the 6.8767 at the previous sale on Monday.
Central Bank sells $38.4m in forex auction
Cut-off price stabilises at EGP 6.79
Price of dollar nears EGP 7 after last week’s transactions
Nears EGP 7.30 on the black market, the highest rate recorded since currency crisis began last month
Pound expected to depreciate further in 2013
Throughout 2012 Egypt’s currency dropped 8.4% against the euro, which cost EGP 8.4 by the end of the year. Egypt’s currency dropped a total of 11% against the sterling in 2012.
USD exchange rate continues to rise as foreign reserves falls
The recurrent rise in the dollar’s exchange rate reflected on the price of imported goods such as steel, sugar and wheat and risks of triggering an inflationary wave
Traders differ on impact of EGP devaluation
Exporters see an opportunity while importers see disaster in devaluation of currency
Emirates Heights denies non-compliance allegations
Emirates Heights, a touristic real estate developer, hosted a roundtable with representatives from the Egyptian press to clarify the company’s position, after a series of protests against the company were triggered weeks ago, against the backdrop of late delivery of residential units in addition to a 30 per cent increase in units prices. Chairman of …
Ministry of Finance to issue more FRNs
The Ministry of Finance has reported it will issue an additional EGP one billion in Floating Rate Notes (FRNs) by the beginning of October. FRNs are bonds with a variable interest rate that changes every six months and is tied to a certain money-market index. According to experts, FRNs provide protection to investors against drops …
USD exchange rate skyrockets
Few days after president ‘s statement that the Egyptian Pound will not be devaluated, the exchange rate of the US dollar rises against the Egyptian pound to hit its highest level since 2004
Currency exchange rates see relative stability after Eid El-Fitr break
By Waleed Abdel Azim The exchange rates of different currencies have stabilised during the Eid holiday and demand has not increased for any of the major currencies. The US dollar recorded a rate of 6.08, the Euro recorded a rate of 7.55 and the GB pound recorded a rate of 9.85 to the Egyptian pound. …