US dollar dips in volatile trading
Euro rose to 1.0951 US dollars from 1.0870 US dollar in the previous session, and the British pound rose to 1.2599 dollars from 1.2450 US dollars in the previous session
Latest in Tag: Forex Highlight
Latest in Tag: Forex
Opportunity with Forex Trading
As a society, we are presented with increasingly more investment opportunities in an ever more flexible world. Few, though, have the impact of forex trading.
Obstacles discussed at Egypt Automotive summit
Several investment plans by Nissan are on hold due to foreseen risks, says Nissan GM
Saxo Bank considers adding Egyptian Exchange to its list of global markets by end of 2015
Denmark’s Saxo Bank is investigating the possibility of adding the Egyptian Exchange to the list of global stock markets for which the bank allows stock trading by the end of 2015, according to Mohamed El Masry, Development Manager of the Saxo Bank in the Middle East. The Middle East represents 15% of total stock dealings …
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
Egyptian pound strengthens at central bank Forex sale
Reuters – The Egyptian pound strengthened at a central bank dollar auction on Monday after hitting a six-month low last week. The central bank sold dollars at a cut-off price of EGP 6.9649, slightly stronger than the EGP 6.9651 at its last auction on Thursday. But the dollar sold on the black market for EGP …
Egypt relaxes controls on Forex transfers
A central bank letter circulated to banks on Monday and posted on the bank’s website said the change would take effect from January 2014 and could not be applied retroactively.
Egypt Pound slips again at Forex auction
The central bank sold $38.6 million to banks at Monday’s auction, with a cutoff price of 6.9075 pounds to the dollar, weaker than the 6.8972 at the previous sale on Thursday.
Egyptian pound down at Forex sale for second time in two days
Two market participants said the dollar was offered for 7.42 pounds in the black market on Thursday.
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.
Egypt pound flat at Monday’s forex auction
On the black market the pound was trading on Monday at 7.33/7.36, weaker than Tuesday’s rate of 7.31/33 to the dollar, two traders said.
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.
Forex auctions carry on
Despite the optimism, the current political insecurity and the unsettled International Monetary Fund loan are seen as contributors to the weakening of the pound against the dollar.
Middle East Forex Expo to discuss Islamic banking
Expo held in Dubai next week
Central Bank to fight foreign currency black market
Exchange market stabilises as demand for dollar retreats
Central Bank dollar supply continues to shrink
$37.8m were sold at a forex auction which began last December at $75m