Egyptian pound

Egypt expected to devalue the EGP... what if it doesn’t in the short term?

Mon, 22 May 2023 - 08:01 GMT

What if Egypt won’t devalue its currency in the short term?

Future contracts for Egyptian pound fell to LE38

Wed, 08 Mar 2023 - 02:12 GMT

Since the beginning of March, the exchange rate has witnessed successive declines, heading towards LE 31.

Dollar price increases at end of transactions at Egypt's major banks

Mon, 30 Jan 2023 - 05:43 GMT

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered LE 29.90 for buying and LE 30.00 for selling.

Russia adds EGP to its foreign currencies list

Thu, 19 Jan 2023 - 09:26 GMT

The exchange rate of the Russian ruble against the Egyptian pound recorded about 43 piasters, according to the list of the Russian Central Bank.

Egyptian banks can withstand further EGP depreciation: Fitch

Tue, 17 Jan 2023 - 03:04 GMT

It added that large private-sector banks are better-placed to withstand currency depreciation than the two largest public-sector banks, National Bank of Egypt (NBE) and Banque Misr (BM), due to their higher regulatory capital buffers.

UPDATED: Dollar price records unprecedented rise, drop during Wednesday trading

Wed, 11 Jan 2023 - 12:10 GMT

While the Central Bank leaves prices setting according to the mechanisms of supply and demand, without any intervention to support the value of the local currency.

Dollar exchange rate rises against Egyptian pound, exceeding LE 26

Wed, 04 Jan 2023 - 11:11 GMT

In the two largest banks in terms of assets and transactions, the National Bank of Egypt and Banque Misr, the exchange rate recorded LE 25.9 for purchase, and LE 25.95 for sale.

Egypt denies allegations about pound exchange rate, dollar shortage

Tue, 13 Dec 2022 - 05:37 GMT

It stated in a recent report that Egypt has recently adopted a flexible exchange rate policy, describing it as the most appropriate one in the case of open economies that adopt an independent monetary policy.

Capital Economics expects Egyptian pound to fall 18% to 24/$ by end-2023 if not sooner

Thu, 27 Oct 2022 - 12:19 GMT

“The move will result in some short-term economic pain but it will help to get an IMF deal over the line and go a long way to restoring macroeconomic stability,” it stated.

Egypt not tied to dollar, pound index to be conducted: CBE governor

Mon, 24 Oct 2022 - 10:29 GMT

He noted during Egypt’s Economic Conference that the CBE enjoys complete independence, and at the same time there is coordination with the government and the private sector as well.

Dollar exchange rate surpasses LE19 at Egypt's major banks

Tue, 02 Aug 2022 - 03:34 GMT

The US dollar rate increased by 5 piasters for buying and selling.

Egyptian pound to reach LE21/$ by end of 2022 with further fall to take place

Mon, 01 Aug 2022 - 04:41 GMT

The economics company also anticipated a 16 percent decrease by the end of 2024 to record 25 per dollar.

Egypt's central bank for Egyptian pound holder to be winner in medium term

Wed, 18 May 2022 - 02:50 GMT

"The exchange rate was corrected due to the Ukrainian war in March and as a result foreign exchange earnings increased,” the CBE’s governor stated.

Exchange department: 300% increase in dollar selling rate

Thu, 24 Mar 2022 - 04:35 GMT

Hariri noted that a large group of customers untied their dollar-saved bank deposits and bought Egyptian pounds to benefit from the proceeds of the one-year certificates offered by the two state-owned banks.

Dollar exchange rate increased between 28-30 piasters against Egyptian pound

Tue, 22 Mar 2022 - 02:41 GMT

The dollar rate registered LE 18.45 for buying and LE 18.55 for selling at the Commercial International Bank (CIB).

Egyptian pound remains stable against foreign currencies

Thu, 23 Dec 2021 - 04:34 GMT

Egypt's foreign cash reserves have been on the rise since June 2020.

Egypt's central bank denies stoppage of dealing with fiat pound in the market

Thu, 11 Mar 2021 - 01:51 GMT

The Media Center of the Cabinet said in a statement, that it had contacted the Central Bank of Egypt, which denied the news, stressing that it was untrue to cancel dealing with the pound banknote in the markets.

Egyptian pound records its highest value against dollar since October 2016

Wed, 10 Mar 2021 - 04:18 GMT

The exchange rate has witnessed a continuous decline since June 2020, to record LE 15.7 in November, to stabilize until February 2021.

Cabinet: EGP among best world currencies against dollars in 4 years

Mon, 15 Feb 2021 - 10:44 GMT

A report published by the center said the exchange rate is one of the key indicators of economic strength of world countries.

Dollar down 35 piasters against pound in 10 months

Sun, 01 Nov 2020 - 01:50 GMT

The dollar price dropped from LE 15.99 for buying and LE 16.09 for selling on January 1 to LE 15.64 for buying and LE 15.74 for selling on October 31.