CBE

Egypt's annual core inflation records 23.7% in November: CBE

Tue, 10 Dec 2024 - 05:09 GMT

According to this data, the annual core inflation rate continued its downward trend for the third consecutive month.

Egypt’s foreign reserves reach $46.95 billion at end of November 2024

Sun, 08 Dec 2024 - 03:05 GMT

The foreign currency reserves are composed of major global currencies, including the US dollar, Euro, British pound, Japanese yen, and Chinese yuan, providing a diversified financial foundation.

Egypt’s central bank predicts EGP 2.7T in transactions via InstaPay by end of 2024

Thu, 05 Dec 2024 - 02:39 GMT

This step is part of ongoing efforts to promote digital transformation and reduce reliance on cash, supporting Egypt's goal of becoming a cashless society.

Egypt introduces instant int’l remittance service through instant payments network

Thu, 05 Dec 2024 - 01:09 GMT

This initiative is part of Egypt's ongoing push toward digital transformation and reducing the reliance on physical cash, in line with the bank’s broader strategy to modernize the country’s financial infrastructure.

Egypt’s debt service costs projected at $22.46B in 2025: CBE

Wed, 04 Dec 2024 - 01:32 GMT

Egypt’s total external debt saw a significant decline, dropping by $7.7 billion in the second quarter of 2024 to $152.9 billion in June, compared to $160.6 billion in March.

Egypt’s central bank withdraws LE 1.033T in liquidity

Tue, 03 Dec 2024 - 04:05 GMT

This follows last week’s operation, where the CBE withdrew LE 1.135 trillion.

Egypt’s central bank to issue LE 19B in T-bonds Monday

Mon, 02 Dec 2024 - 12:13 GMT

The issuance includes three tranches: the first, valued at LE 5 billion, has a two-year term, and the second is worth LE 12 billion with a three-year term.

Egypt’s central bank to issue $900M in US dollar-dominated T-bills Monday

Mon, 02 Dec 2024 - 08:16 GMT

These bills, with a maturity of 364 days, are scheduled to mature on December 2, 2025, according to the bank’s website.

Egypt’s net foreign assets drop to lowest in 6 months, driven by commercial banks’ deficit

Sun, 01 Dec 2024 - 01:37 GMT

Egypt’s foreign assets only recently shifted to a surplus back in May, following two years of a deficit caused by several conditions including a large number of foreign investors pulling out from the market.

Remittances from Egyptians abroad double to $2.7B after financial reforms

Mon, 25 Nov 2024 - 04:23 GMT

Remittances from Egyptians abroad witnessed major leaps after reforms in March 2024, doubling in Sept. 2024 to record about $2.7 billion.

President Sisi meets PM Madbouly, CBE Governor Hassan Abdallah

Mon, 25 Nov 2024 - 01:04 GMT

Egypt’s President Abdel Fattah El Sisi met on Monday with Prime Minister, Moustafa Madbouly, and Governor of the Central Bank of Egypt (CBE), Hassan Abdallah.

Egypt’s central bank achieves LE 107.7B in net profits by October 2024

Sun, 24 Nov 2024 - 11:13 GMT

The bank’s reserves reached LE 403.147 billion, while its capital stood at LE 21.600 billion as of October 2024.

Egypt's central bank issues LE 72B in T-bills Sunday

Sun, 24 Nov 2024 - 10:51 GMT

The T-bills were offered in two installments, with the first valued at LE 45 billion with a 91-day term.

CBE keeps interest rates unchanged for fifth meeting in row

Thu, 21 Nov 2024 - 05:01 GMT

The overnight deposit rate remains at 27.25 percent, the overnight lending rate at 28.25 percent, and the rate of the main operation at 27.75 percent.

Egypt's central bank issues LE 72B in T-bills Sunday

Sun, 17 Nov 2024 - 12:24 GMT

The T-bills were offered in two installments, with the first valued at LE 45 billion with a 91-day term.

Net foreign assets of Egypt's central bank increase to LE 520.121B in October

Sun, 17 Nov 2024 - 10:30 GMT

Net foreign assets refer to the difference between banks’ assets owed by non-residents and their liabilities owed to non-residents.

Egypt's central bank withdraws LE 1.369T in open market operation

Tue, 12 Nov 2024 - 02:54 GMT

This follows its recent decision to adjust its policy for accepting bids, offering a rate of 27.7 percent. This marks a notable increase compared to last week's withdrawal of LE 992.450 billion.

Egypt's central bank emphasizes expanding bank markets, supporting green economy initiatives

Tue, 12 Nov 2024 - 10:54 GMT

Abdalla highlighted the Central Bank's support for banks in expanding to new markets and attracting investments in both local and foreign currencies.

Remittances from Egyptians expats surge to $2.6B in August 2024

Mon, 11 Nov 2024 - 11:29 GMT

Additionally, remittances for the period from July to August 2024 increased by 76.2 percent, reaching around $5.6 billion, compared to approximately $3.2 billion during the same period last year.

Egypt's annual core inflation records 24.4% in October: CBE

Sun, 10 Nov 2024 - 05:58 GMT

The CBE revealed that the monthly core Consumer Price Index (CPI) in Egypt recorded 1.3 percent in October 2024 compared with 1.8 percent in October 2023 and 1.0 percent in September 2024.

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