Stabilizing after the float, LE stands firm at under LE 50 against USD

Thu, 07 Mar 2024 - 01:26 GMT

In the 24 hours after the Central Bank of Egypt's (CBE) decision to float the Egyptian pound on Wednesday, leading to a significant decline of 62 percent in value, the pound displayed resilience

Devaluation will raise pound to LE45-50 against USD: JP Morgan

Sun, 11 Feb 2024 - 06:01 GMT

JP Morgan expects that any currency adjustment will be accompanied by an increase in deposit interest rates by an additional 2 percent

S&P predicts LE to adjust closer to black market rates, believes IMF to release tranches post-adjustment

Mon, 29 Jan 2024 - 12:29 GMT

“We think more clarity on exchange rate policy would benefit trade and economic growth and trigger an increase in remittance inflows,” S&P wrote in its report

Devaluation of LE could persuade USD holders to deposit FX into banks to close rate gap

Mon, 22 Jan 2024 - 05:26 GMT

The committee head stressed that certain requirements must be met prior to any devaluation or currency adjustment, emphasizing the need for a sustained decline in inflation rates.

HSBC predicts new devaluation to occur within Q1 2024, forecasts LE40-45 against USD

Sun, 17 Dec 2023 - 03:15 GMT

The bank stressed that the pound’s adjustment is simply part of a wider transition by the government toward a more flexible exchange rate regime

Standard Chartered revises prediction for pound devaluation, says not likely before 2024

Sun, 15 Oct 2023 - 04:56 GMT

The revision comes in light of recent comments by the International Monetary Fund’s Managing Director, Kristalina Georgieva, and Egyptian officials over the past week

Egyptian pound devaluation expected amid inflation concerns, interest rates rise: Capital Economics

Sun, 13 Aug 2023 - 07:33 GMT

Capital Economics projects that the Egyptian pound will depreciate to 35 per dollar by the close of 2023, marking a 12 percent devaluation from its current rate of 30.95 per dollar.

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?

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.

Egypt is a haven market for traders: Bloomberg

Fri, 17 Aug 2018 - 09:50 GMT

In light of volatile economies the world faces nowadays, Bloomberg reviewed Egypt's economy in a report, referring to it as the traders’ refuge from volatility.

No official medicine price hikes announced yet: FEI

Wed, 23 Aug 2017 - 11:48 GMT

The ministerial decree issued in January amending the medicine prices included a review in August, but nothing has been issued yet, Pharmaceuticals Chamber said.

Beltone Financial to launch $1B fixed income fund

Mon, 14 Aug 2017 - 10:44 GMT

Egyptian financial services group Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September.

Pound devaluation in favor of Egypt’s exports: Minister

Tue, 08 Aug 2017 - 09:16 GMT

Egypt’s exports increased 9.4 percent to $14 billion in the period between November 2016 and June 2017, after the devaluation.

Qatar likely to resist currency pressure

Mon, 12 Jun 2017 - 07:00 GMT

Qatar is unlikely to devaluate its riyal on strong foreign reserves and balance sheets, London-based consultancy Capital Economics predicted Sunday.

Egyptian banks at risk after currency flotation: Fitch Ratings

Wed, 05 Apr 2017 - 07:00 GMT

Fitch Ratings warned Tuesday that some Egyptian banks are still at risk and facing difficulties to meet minimum regulatory capital requirements due to the Egyptian currency’s weakness, following its flotation in November, and high exposure to foreign-curr