Latest in Tag: exchange rate Highlight
Latest in Tag: exchange rate
CBE concludes week without changing pound’s price, contrary to market expectations
Market expectations inclined towards floating the exchange rate or reducing the value of the Egyptian pound through an exceptional auction
Tyre prices increase by EGP 100-290, rim prices increase by EGP 440
Sales declined by 65%; global companies offer Chinese alternatives
Motor oil prices increase by 4%, filters by 10%
The prices of automobile oil have increased by 4% in the past few days, and the price of passenger car filters have increased by 10%, both resulting from the increase in the US dollar exchange rate—which affects importing the requirements for production. Sales director at Al Barkah International Ltd for automobile oil trade, Ahmed Mohamed, …
Egypt, IMF to postpone unifying exchange rate until first tranche of loan arrives
Government moving quickly towards loan, while mission concerned about Cairo’s ability to implement and follow up on reforms, says former IMF official
Stabilising US dollar exchange rate, CBE confuses dollar holders once again
The CBE directed banks to allocate foreign currency for imports of medication
Increase of US dollar exchange rate supports chances of exporting MCV buses: Ghabbour
The group is targeting to export 150 hybrid buses to London this year
International pressure builds on Egypt to liberalise exchange rate
A floating exchange rate is likely in Egypt’s future due to pressure from the IMF and the looming prospect of a Federal Reserve interest rate hike later this year
Exchange rate to climb to EGP 12.69 by the end of FY 2020: FocusEconomics
Egypt’s economy is standing on shaky ground, says FocusEconomics
Banks to receive 1.5-4.75% commission in return for fixed exchange rate for foreign investment
This mechanism allows foreigners to contract with banks on a specific exchange rate, for instance, EGP 8.78 for $1 according to the current rate at the Central Bank of Egypt (CBE)
New CBE governor must balance between inflation, exchange rate, interest rates: Expert
The Egyptian pound will not rise because of a new governor, says Abdel Aal
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
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
Egyptian pound slumps to seven against US dollar
Egypt’s currency continues to devalue despite attempts by Central Bank to slow the decline with foreign currency auctions
Consumer group holds cement companies responsible for dollar shortage
Citizens Against Price Rises demands Egypt’s Central Bank intervene to address the issue
Central Bank sells $38.4m in forex auction
Cut-off price stabilises at EGP 6.79
Egypt records highest core inflation rate since 2010
CAPMAS and Central Bank of Egypt figures reveal rise in inflation, foreign exchange reserves reduced to $13.5bn by the end of February
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
Central Bank dollar supply continues to shrink
$37.8m were sold at a forex auction which began last December at $75m
The diesel crisis: Petroleum minister’s words versus reality
Crisis due to high levels of smuggling and not a shortage in supplies, says Osama Kamal
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
US Dollar breaks EGP 6.15 level
Raise reportedly due mainly to political tension
Exchange rate of USD reached a new peak
The price of U.S. dollars in Egyptian pounds reached record rates last Sunday. The exchange rate increased at exchange to EGP 6.07 for buying and 6.08 for selling for the first time in 7 years, compared to 6.06 for buying and 6.07 for selling the day before, according to the Central Bank of Egypt (CBE). …