CBE: International reserves up by $258M with foreign currency reserves at $36.8B

Sun, 07 Jul 2024 - 03:00 GMT

Egypt’s slow but steady NIRs growth, despite paying off large sums of outstanding debt, reflects a positive trend in the economy’s recovery.

Additional banks join in on restricting FX transactions abroad, some suspend withdrawals

Tue, 16 Jan 2024 - 03:52 GMT

Al Baraka Bank Egypt and EG Bank announced new restrictions on foreign currency transactions on Tuesday through their respective websites, following Abu Dhabi Islamic Bank (ADIB) and CIB’s new limitations released last Thursday

Adopting new flexible FX policy should settle pound at LE 39.61 against USD by 2028: IDSC

Mon, 08 Jan 2024 - 05:33 GMT

The government’s 2030 strategy included driving inflation down to 9.2 percent on average between 2024 and 2028, with a further decline to 5 percent by 2030

Imports not charged new FX VAT, finance minister

Tue, 28 Nov 2023 - 11:52 GMT

Minister of Finance, Mohamed Maait, shared that the new value-added tax (VAT) in foreign currency does not apply to imports, mitigating some importers’ concerns over the latest amendments to the tax law

Dollar gains as FX volatility drops

Tue, 23 Apr 2019 - 10:18 GMT

With 10-year U.S. Treasury yields up by more than 20 basis points over the past four weeks to a one-month high, demand for U.S.-denominated assets has grown.

Dollar steadies ahead of Jackson Hole meetings

Thu, 24 Aug 2017 - 09:25 GMT

The dollar steadied on Thursday after another politically-driven slide against the euro and yen.

European stocks break three-day losing streak

Tue, 22 Aug 2017 - 09:07 GMT

European stocks broke a three-day losing streak on Tuesday, building on gains in other markets boosted by signs of a global economic recovery.

Oscar-winning Coen brothers to bring Western anthology series to Netflix

Thu, 10 Aug 2017 - 12:54 GMT

Oscar-winning filmmakers Joel and Ethan Coen are transitioning to the small screen with a new Western anthology for Netflix Inc.

Dollar steady near 13-month lows; data eyed

Mon, 31 Jul 2017 - 08:16 GMT

The dollar held near a 13-month low against a basket of currencies on Monday.

USD stable Monday, Euro up against Egyptian pound

Mon, 19 Jun 2017 - 09:02 GMT

Foreign currency exchange rates stabilized against the Egyptian pound in Monday morning’s banking transactions.

Remittances soar $930M in six months

Sun, 18 Jun 2017 - 07:31 GMT

Remittances from expatriate workers abroad hiked $930 million over the six month period following the flotation.

Foreign currencies unchanged, Kuwaiti dinar up

Sat, 10 Jun 2017 - 09:32 GMT

Foreign currency exchange rates stabilized against the Egyptian pound in Thursday’s banking transactions, while the Kuwaiti dinar was up around 30 piasters.

Oil prices climb on hopes output cuts will be extended

Fri, 19 May 2017 - 09:09 GMT

Oil futures rose on Friday to the highest in nearly a month on growing optimism that big producing .

Egypt should top of investors’ agenda: Renaissance Capital

Wed, 03 May 2017 - 04:00 GMT

Renaissance Capital announced three takeaways from the second annual Egypt Investor Conference held in CapeTown last week

Remittances jump to $8B from Nov. to March: CBE

Tue, 02 May 2017 - 11:39 GMT

Remittances from expatriate workers abroad increased to $8 billion from November 2016 till March 2017, Central Bank of Egypt (CBE) announced in a Tuesday statement.

Remittances from Egyptians jump 23% to $1.6B in January: CBE

Mon, 06 Mar 2017 - 08:47 GMT

Remittances from Egyptians abroad soared by 23 percent in January year-on-year, registering $1.6 billion.