Exchange Rate

Egypt 'serious' about adopting flexible exchange rate: IMF official

Wed, 03 May 2023 - 05:17 GMT

“Egypt is working to restore investor confidence in an economy that was damaged by the repercussions of the Russian invasion of Ukraine,” according to Azour’s televised statements.

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.

Flexible exchange rate helps stabilize commodity prices, avoid random pricing: Expert

Thu, 12 Jan 2023 - 10:11 GMT

The US dollar price started with a surge recording LE 32, and then decreased to LE 29.67 on Wednesday.

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.

Egyptian business community leader warns of long-run negative impact of trade deficit on exchange rate

Sun, 30 Oct 2022 - 02:25 GMT

Head of the Export Council for Engineering Industries Sherif al-Sayad made the statements in a TV interview Saturday.

Penalty of price manipulation, monopolistic practices can reach up to LE2M: Egypt's Consumer Protection Agency

Sun, 30 Oct 2022 - 11:16 GMT

Hossam El Din's statements are made amid an expected rise in prices due to the devaluation of the Egyptian pound on Thursday.

EGX jumps 4.3% after CBE's decisions to raise interest rates, liberalize exchange rate

Thu, 27 Oct 2022 - 11:02 GMT

By 11 PM Cairo time, the benchmark EGX30 rose 4.32 percent, reaching levels of 11,009 points.

Egypt's central bank raises interest rates 2%, adopts flexible exchange rate

Thu, 27 Oct 2022 - 09:28 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were raised to 13.25 percent, 14.25 percent, and 13.75 percent, respectively. The discount rate was also kept raised to 13.75 percent.

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.

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).

President Sisi approves 13% increase in pensions: Egypt’s PM

Mon, 21 Mar 2022 - 09:15 GMT

The increase would be applied next April rather than July, at an additional cost of LE 8 billion.

CBE Governor: Decisions regarding exchange, interest rates positive

Mon, 21 Mar 2022 - 08:45 GMT

The Russian-Ukrainian war was another blow that led to global economic instability and major economic wars, and of course, it affected Egypt, Amer continued.

US dollar exchange rate jumps to LE 17.5

Mon, 21 Mar 2022 - 11:11 GMT

The US dollar exchange rate rose from LE 15.6 for purchase and LE 15.75 for sale.

Dollar exchange rate stable at Egypt major banks at year end

Sun, 02 Jan 2022 - 01:00 GMT

That is attributed to economic reforms made by the Central Bank of Egypt and the support of the political leadership that led to more economic and political stability, some banking experts told MENA Thursday.

Dollar exchange rate stable at Egypt major banks

Sun, 26 Dec 2021 - 05:22 GMT

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable, recording LE 15.64 for buying and LE 15.74 for selling.

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.

US dollar price stable at Egypt's major banks

Tue, 21 Dec 2021 - 12:59 GMT

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable, recording LE 15.64 for buying and LE 15.74 for selling.