Latest in Tag: foreign exchange Highlight
Latest in Tag: foreign exchange
We repatriate Air France’s money in return for bearing foreign exchange gap: country manager
‘The company operates its brand new Boeing 787 to Cairo with 6 weekly flights’.
Banks loosen restrictions on US dollars abroad after foreign exchange resources improve following pound flotation
Banks operating in the local market have begun to ease restrictions set earlier on Egyptians’ use of US dollars abroad through cash and electronic payment cards. Commercial state banks including the National Bank of Egypt (NBE), Banque Misr, and Banque du Cairo were the first to make this move, and were followed by other banks …
Former Police Club manager released following interrogation over EGP 25 bribe
No evidence of corruption could be found against him, says lawyer
Health sector requires $2.6bn annually from foreign exchange: Prime Minister
Pharmaceutical factories must continue to work at full capacity to cover local market and export needs, says Ismail
$26m increase in CBE’s foreign exchange reserves in June
The value of gold included in the reserves increased to $2.602bn in June, compared to $2.513bn in May, an increase of $89m.
CBE to reveal its foreign exchange reserves this week
Debt repayment to Qatar and Paris Club countries is likely to impact reserves by the end of July
Foreign aid, loans kept foreign exchange reserves cohesive under Muslim Brotherhood and Al-Sisi
The Egyptian pound lost 16% of its value against the US dollar during Morsi’s presidency and lost 23% of its value during the first two years of Al-Sisi’s presidency
$510m increase in Egypt’s foreign exchange reserves in May: CBE
The Central Bank of Egypt (CBE) announced that foreign reserves increased by $510m during May, to register the eighth monthly consecutive rise. In a press statement released on Wednesday, the CBE said that foreign exchange reserves rose to $17.520bn in May, compared to $17.01bn in April. The CBE did not reveal the reasons for this …
Head of IMF Mission to Egypt urges for measures to reduce budget deficit
External debt is within safe limits and can be managed, but local debt is worrying, Jarvis says
Ezz Steel expects continued foreign exchange challenges, decline of global market in short-term
The company managed to turn profits in Q4 of 2015, and reduce losses owing to lower cost of raw materials, opening Ezz Rolling Mills
$56m increase in foreign exchange reserves at end of February: CBE
The Central Bank of Egypt (CBE) revealed Thursday the balance of foreign exchange reserves increased by approximately $56m in February 2016. It explained in statement on its website the reserves increased in February to $16.534bn compared to approximately $16.478bn in January.
Banks ordered to prioritise providing foreign exchange for vital exports
CBE demanded that local banks prioritise directing their foreign exchange liquidity to cover the importation of commodities
US dollar registers EGP 8 at exchange companies
Pharos expects the dollar exchange rate to drop to EGP 8.5 during H1 of 2016
Egyptian foreign reserves down more than $1.5bn, at $18.5bn
Government has to pay $250m in September as dues of bonds issued in international market
$520m increase in Egypt’s foreign exchange reserves in June: CBE
Reserves were supported by government-issued dollar bonds in the international markets during June
Fitch confirms Egypt’s “B” rating, outlook is stable
Budget deficit expected to decrease to 11.6% of GDP in FY15, in comparison to the 17.5% of GDP recorded in FY14, Fitch noted
Banks increased dollar sales by $1.2bn last week: CBE governor
Ramez denies any link between dollar rates and raising prices of commodities
Egyptian investors’ sensitivity is challenge for foreign exchange market: MerexMarkets
MerexMarkets will participate in the 2014 Africa Forex Expo in South Africa, the Middle East Expo in Kuwait and the Turkey Forex Expo
China to further ease currency controls for multi-nationals in pilot
Reuters – China will expand a trial programme to make it simpler for multi-national firms to transfer funds within and outside the country, in a move that will further open its tightly controlled capital account. The experiment, which began in 2012 in Beijing and Shanghai, came in response to growing demand from international companies operating …
Foreign currencies hike amid curtailed exchange services by banks
Traders fear the recurrence of last year’s liquidity crisis, which depreciated the Egyptian pound by more than 15%, and required an urgent intervention by the Central Bank, which sold large sums of foreign currency.