Latest in Tag: foreign exchange Highlight
Latest in Tag: foreign exchange
CBE spots illegal foreign exchange trading schemes
$55m was withdrawn from Egyptian credit and debit cards abroad in one day
US dollar slips after Fed holds interest rates steady
Euro was up to 1.1764 US dollar from 1.1721 dollars in the previous session, and the British pound increased to 1.2961 dollars from 1.2943 US dollars
Geopolitical events cast shadow over expectations of pound’s interest, reserve, inflation
I expect a rate cut from 2% to 3%, exchange rate to EGP 14-15: Abdel Aal
Gold value in FX reserves up $153m in December
This reserve level is the highest ever in the history of Egypt, and covers more than 8 months of commodities’ imports to Egypt.
Remittances from Egyptian expats rose to $4.4bn in July and August: CBE
Remittances of Egyptians working abroad are one of Egypt’s most important foreign exchange resources.
Gold in FX reserves up by $69m in June 2019
FX reserves increased to $44.352bn end of May: CBE
Egypt’s foreign exchange inflows hit $150bn since November 2016
Washington, DC- Foreign exchange flows received by the Central Bank of Egypt (CBE) since the flotation of the Egyptian pound since 3 November 2016 exceeded EGP 150bn, Governor of the CBE Tarek Amer said on Friday. Amer added in an exclusive statement to Daily News Egypt on the sidelines of the International Monetary Fund’s (IMF) …
$52m increase in Egypt’s foreign exchange reserves to $44.11bn end-March 2019
The Central Bank of Egypt (CBE) has revealed an increase in foreign reserves by $52m by the end of March 2019, reaching $44.11bn, compared to $44.06bn by the end of February 2018. This level of reserves covers more than eight months of commodity imports in Egypt. The foreign exchange reserves increased by 14.9% or $5.53bn …
Egypt’s foreign exchange receipts reach $104bn in 2016/17: CAPMAS
Foreign investments in T-bills reached $7.5bn in 2016/17, compared to $19,000 in 2015/16
Foreign exchange sources remain cornerstone of Egyptian economy in 2019
Attracting more FDIs, boosting exports, main recommendations, say experts
FX reserves record $42.611bn at end-March
Foreign currency in reserve increased to $39.018bn, up $64m from February
Foreign reserves hit record high of $38.21bn at end-January 2018
Volume of foreign currency liquidity up $1.036bn, gold up $135m, says CBE
FX reserves end 2017 at record high of $37.02bn
Forex reserves increased by $333m, despite payment of $3.2bn to Afreximbank, says CBE
Egypt scraps foreign exchange restrictions for importers
CBE removes caps for deposit, withdrawal of foreign currency for importers of non-essential goods
Foreign exchange reserves up by $168.6m at end October
Hard cash liquidity up $244m, gold value down by $70m: CBE
Foreign exchange reserves up by $392m at end of September
Volume of foreign currency liquidity up by $365m, gold up by $30m: CBE
Egypt foreign exchange reserves increase by $107m in August
Foreign exchange reserves increased to $36.14bn at the end of August compared to $36.03bn in July
NBE’s total foreign exchange earnings exceed $12bn: vice chairperson
The bank has financed foreign trade operations worth $13bn since 3 November 2016, asserts Abu El-Fotouh
Did CBE miscalculate including part of hot money within foreign exchange reserves?
A debate among analysts about the CBE’s inclusion of foreign investment in treasury bills in its reserves
Lifting foreign exchange transfer constraints is a new message from CBE that Egypt overcame foreign currency crisis: experts
The decision boosts confidence in the Egyptian economy, contributes to attracting more foreign investment flows, Egyptians’ savings abroad, says Amer
CBE reveals foreign exchange status after flotation
$8bn in remittances from Egyptian expats from November 2016 until the end of March 2017
Egypt’s foreign exchange reserves reach new high since March 2011, thanks to new dollar bonds
The foreign exchange reserves increased to $31.1bn at the end of May compared to $28.6bn in April
Egypt’s foreign exchange reserves reach new high
The foreign exchange reserves increased to $31.1bn at the end of May compared to $28.6bn in April
FX is not only indicator for assessing economy: Arqam Capital
Most of the foreign exchange (FX) flows to banks are being directed to alleviating longstanding pressure on the corporate and household sectors to spur economic activity and reduce inflationary pressures, while meeting the demands of foreign companies and investors for repatriation. According to Arqam Capital’s report “The Devil in the FX” published in February, the …
Increase of foreign exchange reserves at CBE, backed by gold in February
The value of gold included in the reserves increased by $170m to reach $2.62bn at the end of February
Egypt rebalancing continues, yet challenging year lies ahead: Fitch
“The rising levels of foreign exchange (FX) reserves, a return of private capital inflows, and appreciation of currency, marks the progress in Egypt’s gradual external rebalancing in early 2017. Further fiscal consolidation in addition to external rebalancing would lay the groundwork for a broader-based improvement in sovereign credit metrics in 2018,” said Fitch Ratings in …
Currency flotation is paying off as foreign flows drive foreign-exchange stabilisation: EFG Hermes
Squeezed by turbulence and uncertainty since 2011, Egypt’s economy encountered numerous challenges, such as the prolonged political transition that led to the build-up of macroeconomic imbalances. The government decided to adopt an economic reform programme—backed by the International Monetary Fund (IMF)—which included the introduction of the value-added tax (VAT) law, the reduction of fuel subsidies, …
67.4% increase in total collected foreign exchange in 2015/2016: CAPMAS
Total proceeds of foreign exchange amounted to EGP 1.5088tn 2015/2016, compared to EGP 901.5bn in 2014/2015—an increase of 67.4%—according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) recent annual bulletin on collection and payment of foreign exchange in 2015/2016. CAPMAS attributed the increase to increased receipts from goods exports and private transfers without …
Improving clarity on FX supply and demand dynamics should steadily encourage foreign investors to leverage lucrative interest differential: HC S&I
Slower private consumption and investment growth in the short term to be largely offset by an improved net import position
Gold value increases to $2.45bn in foreign exchange reserves by late January 2017
A report published by the CBE on Sunday revealed that foreign exchange reserves increased to $26.363bn by the end of January 2017, compared to $24.265bn in December 2016