Latest in Highlight
Latest in
EGP to increase by 3.5% reaching EGP16 per $1 by beginning of 2020: OBG
The OBG explained that it expects an increase in the EGP value by 3.5%, to reach EGP 16 per $1 by the beginning of 2020.
Unifying foreign currency rate is a positive step: Tawfik
Car prices will not be affected by “liberalisation of customs exchange rate,” says Aboul Magd
Customs dollar liberalisation assures authorities’ trust in pound stabilisation: experts
Decision has a limited impact on market prices, says Abo Basha
Egypt scraps customs dollar; price to depend on CBE exchange rate
Government sources told Daily News Egypt that the decision was taken by the Minister of Finance, Mohamed Moeit, to unify procedures for all customs’ items.
USD loses over 122 piasters against Egyptian pound since start of 2019
Egypt received strong foreign exchange inflows during the recent period, which has pushed the US currency to depreciate against the pound
Drop in US dollar exchange rate cuts auto prices by 3%
Mostafa excludes impact of car sales on dollar
US dollar value continues decline against EGP in banks on Monday
The US dollar lost two piasters in the Egyptian National Bank and the Suez Canal Bank, recording EGP 16.71 for buying and EGP 16.81 for sale
Pound appreciated 84 piasters since beginning of 2019: CBE
US currency is approaching EGP 17 against pound, as foreign exchange flows increase in Egypt
Finance Ministry reduces customs dollar for non-essential goods to EGP 17.24
The Ministry of Finance reduced the customs dollar exchange rates for non-essentials goods to EGP 17.24 in May, down from EGP 17.385 April, while keeping its price unchanged at EGP 16 for strategic commodities, the ministry announced on Wednesday. In December 2018, Egypt announced ending the discounted customs exchange rate for some imported goods, which …
Egypt’s outstanding dollar, euro bonds increase to $23.2bn, €2bn respectively
Maturities of dollar bonds range between 5-30 years, euro bonds between 8-12 years
EGP liberalisation eliminated all FX shortage
Egypt’s payments balance achieved overall surplus of $12.8bn, 5.1% of GDP for FY 2017/18
Finance ministry considers increasing customs’ dollar exchange rate, importers oppose
Inflation will rise by 1%, if customs’ dollar exchange increased, says Pharos Holding official
Customs dollar set at EGP 16 in August: finance minister
Capital Economics expects customs dollar to rise to EGP 19 by year end, EGP 20 by 2020, amid cautious market
Growth potential in emerging markets is unaffected by rising dollar
The decline in emerging-market currencies since March is the result of the dollar rally. However, emerging markets are still benefiting from synchronised growth in the global economy. That momentum provides a good opportunity to move back into this asset class. The year 2018 started well for emerging markets, until they peaked on 20 March. Since …
Stability in customs dollar value at EGP 16: finance minister
Minister of Finance Mohamed Moeit announced that the price of the customs dollar will continue to be fixed at the current rate of EGP 16 starting from 1 July 2018 and lasting for a month. The customs dollar is used to calculate the value of the fees paid by the importer in local currency for …
Beltone expects dollar exchange rate to reach EGP 17.55 in FY 2017/2018
Short-term external debt levels main obstacle to improving economic indicators
Decrease in dollar exchange rate would reduce planned increases in electricity prices: Shaker
When Siemens, solar energy plants enter service, tariff would improve
Dealers expect dollar value to range from EGP 17-19.5 in 2018
Growth rate to range from 4-5%, inflation to decrease to 13-15%
Custom dollar exchange rate fixed for January
Finance ministry said rate will be steady at 16 pounds
Importing companies to achieve stronger financials on CBE decision
Decision removes obstacles we were facing, says Cairo for Drugs chaiperson
Dollar bonds to be issued January-February 2018, IMF delegation to visit Egypt in late October
31.8% growth in tax revenues by end of June 2017: Finance Minister
CBE covered dollar needs worth $49bn since flotation
Dollar liquidity is directed to foreign trade financing and foreign companies’ reparation of funds
Falling inflation should pave way for prolonged monetary easing cycle: Capital Economics
Fuel prices need to increase by an additional 140% by 2018/19
Unstable dollar price behind fluctuation in banks’ deposits, loans after flotation: CBE
Most banking indicators experience a rise and fall every month because of revaluation of assets in foreign exchange
Depreciation of customs dollar to EGP 16.25 after four month of stabilisation
Four months of stabilisation in the value of customs dollar at EGP 16.5 due to the stability of the dollar price in banks
Ministry of Tourism is betting on increasing expenditure rate by year end to reach $85 per person
This spending rate is still weak compared to the other tourist destinations competing for Egypt, including Dubai, for example, as the average spending rate of tourists per day is $180, which is a big difference between the two countries: according to an official
Pound strengthens due to market supply and demand mechanism: Amer
The CBE governor told the president that the bank didn’t intervene to support the local currency
Egypt foreign reserves reaches $31.305 billion in June; Pound steady
The reserves records 29% increase since the beginning of 2017
Egyptian pound shows signs of correction: Beltone
Total outstanding liability to register at $7.6bn and $12.2bn in FY 2017/18 and FY 2018/19 respectively
CBE to remove dollar deposit limits over upcoming months: IMF
The fund’s board votes on the Egyptian economy’s first review within weeks