foreign currency

Egypt’s net foreign reserves record $40.8B in September: CBE

Mon, 04 Oct 2021 - 05:42 GMT

Egypt’s net foreign reserves increased by approximately $153 million in September.

IMF: Egypt has strong capacity to repay foreign currency obligations

Tue, 29 Jun 2021 - 01:42 GMT

Egypt's foreign debt is expected constitute around 36 per cent of GDP by the end of 2021, she noted.

Foreign currency inflows hit $324M in one day: Banking official

Mon, 26 Oct 2020 - 10:01 GMT

The official cited a remarkable and steady increase in foreign investments thanks to boosted investor confidence in the country's economy.

CBE: Foreign currency reserves up by $37M in January

Thu, 06 Feb 2020 - 05:16 GMT

In December, the country's foreign reserves registered $45.419 billion, the CBE added.

Banque Misr’s yield of currency concessions exceeds $13B

Mon, 14 May 2018 - 11:46 GMT

The dollar is available at all the bank’s branches all over the country.

Foreign currencies in Egypt’s int’l reserves rise to $40.5B in April

Wed, 09 May 2018 - 12:27 GMT

Foreign currencies’ balance in Egypt’s international reserves increased to $40.5 billion in April, increasing by LE 23 billion in one month.

Individuals, corporate assets in banks reach LE 5T: Amer

Sun, 29 Apr 2018 - 12:35 GMT

Individuals and corporate deposits in Egypt’s banks amount to LE 5 trillion, Governor of the Central Bank of Egypt Tarek Amer said on Sunday.

National Bank of Egypt seeking to raise $600M club loan: sources

Sun, 29 Apr 2018 - 12:12 GMT

National Bank of Egypt is putting together a group of lenders for a club loan in the region of $600 million, banking sources said.

Foreign currencies in Egypt’s int’l reserves rise to $39B in March

Sat, 14 Apr 2018 - 03:49 GMT

Foreign currencies’ balance in Egypt’s international reserves increased to $39 billion in March 2018, up from $25 billion in March 2017.

Business News Wrap-up

Wed, 04 Apr 2018 - 05:23 GMT

A wrap-up of the most prominent business news of the day.

Tourist nights hike 96.5% YoY in January 2018

Sat, 24 Mar 2018 - 10:33 GMT

Tourist nights increased 96.5 percent year-on-year in January 2018, reaching 8.5 million, compared to 4.3 million in January 2017, a report showed.

Egypt’s foreign reserves rose by $18B since float: CBE

Sun, 04 Feb 2018 - 10:59 GMT

Egypt’s foreign reserves rose by some $18 billion in 14 months, or since the country floated its currency in 2016, to record $37 billion in December 2017.

NBE to manage Zohr field’s foreign currency receipts

Thu, 18 Jan 2018 - 03:09 GMT

The National Bank of Egypt (NBE) signed a contract Thursday to manage the cash receipts in foreign currency from the giant offshore Zohr gas field.

Remittances jump $400 million in Q4 of FY 2016/17

Mon, 27 Nov 2017 - 01:26 GMT

State transfers registered $66.5 million of this value in Q4.

Dollar edges up ahead of Fed decision

Wed, 01 Nov 2017 - 07:50 GMT

The dollar edged higher on Wednesday as investors awaited the outcome of the Federal Reserve’s policy meeting for clues about future tightening.

CBE governor: Egypt led economic transformation, not just reform

Tue, 31 Oct 2017 - 05:51 GMT

One year after the flotation, Egypt has had $80 billion of foreign currency inflows in 11 months. “This happened because we depended on ourselves,” CBE governor Tarek Amer said.

80% of industries will obtain permits in one week: Min

Sun, 29 Oct 2017 - 04:55 GMT

The new Industrial Permits Act has reduced the time needed to acquire a permit from 360 days to only one week.

Sudan banks receive first foreign currency transfers as sanctions end

Wed, 11 Oct 2017 - 03:06 GMT

Sudan has for the first time in 20 years begun receiving foreign currency inflows,after the U.S. government lifted decades-old trade sanctions on the country.

Egypt’s foreign reserves up $400M in September, reach $36.5B

Mon, 02 Oct 2017 - 09:07 GMT

Foreign reserves stood at $36.5 billion at the end of September.

NBE collects $13.5B in foreign currencies 11 months

Tue, 26 Sep 2017 - 12:29 GMT

The National Bank of Egypt accumulated LE 330 billion from the “Platinum” certificates with interest rates of 16 and 20 percent in 11 months