The value of the Egyptian pound is declining again against the dollar in Egypt after the Central Bank of Egypt adopted a looser exchange rate policy. The successive rises in the price of the dollar on the Egyptian foreign exchange market triggered an unprecedented wave of inflation Today, Wednesday, the US dollar recorded its all-time … Read more
Cairo, Egypt (CNN) – CNN sources reported in Arabic that the Saudi Egyptian Investment Company – owned by the Saudi sovereign wealth fund – intends to increase the volume of its investments in Egypt in the coming period, by acquiring a stake in Misr Aluminum Company, and the increase in the stake in the Egyptian … Read more
Dubai, United Arab Emirates (CNN) – The exchange rate of the pound against the dollar fell by more than 22% within 3 days of implementing a flexible exchange system, so much so that the dollar registered 24.05 pounds per dollar. ‘purchase and 24.18 for sale at the Central Bank. Experts believe this decline will continue … Read more
We believe the Central Bank of Egypt’s decision to increase the reserve requirement ratio on short-term local currency deposits by 4 percentage points to 18.0% – in light of its efforts to withdraw liquidity and cope with inflationary pressures – may have negative effects on banks’ profitability. According to our estimates, this decision aims to … Read more
Cairo, Egypt (CNN) – A handful of several hours soon after Hassan Abdullah was appointed interim governor of the Egyptian Central Financial institution, the Bank’s Monetary Policy Committee determined on Thursday to resolve the interest charge, anticipating inflation fees to increase. relative to the bank’s goal inflation level of 7% (± 2 proportion factors) on … Read more
<div id="firstBodyDiv" data-bind-html-content-type="article" data-bind-html-compile="article.body" data-first-article-body=" The lecturer in economics at the American University of CairoHani Genena, behind the scenes of a decision Central bankindicating that there is a so-called interest rate set by the Central Bank on mutual lending and lending of banks in the so-called interbank process, and the interest rate on such operations … Read more
<div id="firstBodyDiv" data-bind-html-content-type="article" data-bind-html-compile="article.body" data-first-article-body=" To accelerate inflation Annual CPI in cities in Egypt At a higher than expected rate of 13.6% yoy in July from 13.2% in June and on a monthly basis, core inflation increased by 1.3%, compared to a decline of 0.1% in June. Year-on-year core inflation jumped to 15.6% from 14.6% … Read more
Dubai, United Arab Emirates (CNN)– A senior official in the Central Bank of Egypt said that the bank does not intend to make a significant reduction in foreign exchange rates against the pound. In statements to the government newspaper, Al-Ahram, on Saturday, the first deputy governor of the Central Bank, Gamal Negm, said that the … Read more
The Central Bank of Egypt said today, Wednesday, that net foreign reserves rose to $ 40.100 billion at the end of January 2021, compared to about $ 40.063 billion in December 2020, an increase of about $ 100 million. Egypt imports an average of $ 5 billion per month of goods and products from abroad, … Read more
02:58 PM Saturday 30 January 2021 – I wrote – Manal Al-Masry: Bankers expected that the Central Bank of Egypt would proceed to fix the interest rate on deposit and lending at the first meeting of the monetary policy committee next Thursday. Bankers told Masrawy that despite the positive indicators of the Egyptian economy, the … Read more