Currency

Egypt’s foreign reserves reach $38.3B by end of July

Thu, 06 Aug 2020 - 12:20 GMT

Egypt’s foreign reserves rose by about $113 million, recording $38.314 billion by the end of July 2020.

Dollar drops versus pound recording LE16.01 for buying at 11 banks

Mon, 06 Jul 2020 - 02:59 GMT

The optimistic expectations are backed by the increase in the foreign currency in Egypt due to the return of tourism and foreign investment.

Governor of Egypt’s Central Bank expects pound to rise against dollar

Mon, 30 Mar 2020 - 12:36 GMT

CBE’s governor referred to global talks about how Egypt preceded the current conditions by controlling the economy.

US dollar price stable at Egypt's major banks

Thu, 13 Feb 2020 - 12:24 GMT

The Egyptian pound continues to rise against the US dollar, recording its highest value in three years today.

Dollar price stable at Egypt's major banks

Thu, 30 Jan 2020 - 01:19 GMT

At the National Bank of Egypt and Banque Misr the dollar rate remained stable, recording EGP 15.75 for buying and EGP 15.85 for selling.

Dollar rate down at Egypt's major banks

Wed, 15 Jan 2020 - 11:31 GMT

At the National Bank of Egypt and Banque Misr, the dollar rate declined two piasters, recording LE 15.83 for buying and LE 15.93 for selling.

Egyptian pound maintains upward trend as inflows pick up

Wed, 15 Jan 2020 - 10:01 GMT

Local banks saw $1.7 billion of inflows in the five days through Jan 13, the Central Bank of Egypt (CBE) said in a statement.

Egypt’s foreign reserves hits $45.42B by end of December

Mon, 06 Jan 2020 - 12:55 GMT

Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.

Egypt remains ‘favorite’ for portfolio investors: Bloomberg

Tue, 24 Dec 2019 - 10:52 GMT

According to Bloomberg, Societe Generale SA forecasts that the currency will gain another 4.5 percent to 15.35 per dollar in 2020.

Sterling struggles as threat of a no-deal Brexit grows

Thu, 29 Aug 2019 - 10:27 GMT

However, the pound could come under further pressure, analysts said.

IMF warns against rate cuts, currency intervention to improve trade balance

Thu, 22 Aug 2019 - 10:58 GMT

“What is more, they have negative implications for the orderly working of the international monetary system.”

Trade tensions weigh on stocks as markets await Fed verdict

Wed, 31 Jul 2019 - 10:44 GMT

The fresh trade tensions come ahead a U.S. Federal Reserve meeting which is expected to see interest rates reduced by 25 basis points (bps) in its first rate cut in more than a decade.

Debt and dollar in demand, sterling and stocks stricken on trade war and Brexit

Wed, 17 Jul 2019 - 10:01 GMT

Fed expectations have not dented the dollar however. It stood around a one-week high against a basket of currencies after the previous day’s half-percent jump.

55 financial fraud cases worth LE200M unravel in 1 month

Mon, 15 Jul 2019 - 12:00 GMT

The crimes varied from bribery and administrative corruption to illegal currency trade, money laundering and tariff evasion.

Stocks gain, dollar sags as Fed chief shores up rate cut prospects

Thu, 11 Jul 2019 - 09:47 GMT

The pan-European STOXX 600 climbed 0.2% after losing 1.4% over the past four sessions. Germany’s DAX futures rose and Britain’s FTSE futures gained 0.3%.

Sterling rises from five-month lows vs dollar, euro

Mon, 08 Jul 2019 - 10:17 GMT

By 1430 GMT, sterling was up 0.4 percent at $1.2712, bringing its gains in June to more than 3 percent.

Global shares muted as prospect of sharp U.S. rate cut fades

Mon, 08 Jul 2019 - 10:08 GMT

In Turkey, the lira, stocks and government dollar bonds weakened after President Tayyip Erdogan dismissed the central bank governor, a move that fueled worries about monetary policy independence.

Trade War: Threats and Opportunities

Sun, 07 Jul 2019 - 06:23 GMT

The world has been keeping a close eye on the trade war ignited by the United States that has set up barriers provoking retaliation by mainly China.

Dollar builds on rebound as hopes rise for U.S.-China trade truce

Thu, 27 Jun 2019 - 09:45 GMT

The dollar extended its recovery on Thursday, gaining versus the yen and euro, on hopes the United States and China will agree a trade truce before a G20 summit in Japan this weekend.

SNB director says 'relaxed' about Facebook’s Libra project

Tue, 25 Jun 2019 - 10:08 GMT

The Swiss National Bank’s Thomas Moser, said on Tuesday at an event in Switzerland that he is “relaxed” about Facebook Inc’s Libra project.

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