Latest in Tag: dollar Highlight
Latest in Tag: dollar
CI Capital has predicted a high average inflation rate, ranging between 11% and 11.5% in 2016 and Prime Investment expects the inflation rate will reach 10.8%
The CBE’s decision will help increase exports and attract investments, says El-Sewedi
According to the CBE, this decision came in light of the discount made on transactions conducted at local POS in foreign currency at some commercial centres, through credit cards issued in local currency from local banks
Banks have the right to limit dollar use, in light of the lack of foreign currency in the market, says banker
Devaluation of the pound is not linked to import pressures, but a result of panic following leaked government budget and artificial inflation, says Al-Abyad
The CBE is not responsible for providing the dollar; it is responsible for managing foreign currency reserves and the exchange market
The price of the dollar on the parallel market has neared the EGP 9 mark, while it remains at EGP 7.83 in banks
Officers from banking operations expressed uncertainty regarding several features of the new CBE directive governing dollar deposits for import operations
Agreement on exchange firms supporting CBE’s efforts to control exchange markets and banks obtaining Arab currencies in exchange for dollar
We are continuing in our efforts to increase foreign currency inflows and support the Egyptian economy, says executive board member
The CBE decision included high-priority products, such as pharmaceuticals, production inputs, raw materials, food, and industrial machinery, excluding other luxury goods.
The dollar reached EGP 8.6 on the black market
Imports, which are not committed to international import requirements, are valued at $9bn, says source in Ministry of Industry
Around $26bn of Egyptian imports are categorised as “essential”
The dollar’s value rose from EGP 7.18 in January to EGP 7.83 at year’s close, exceeding the level of EGP 8 through 2015
The word “gold” makes up 40% of financial searches online
Meanwhile, the interest rates on dollar deposits in some banks increased at a rate ranging between 0.125% and 0.25%.
Banks made large profits; it is time to pay part of these profits’ bill and help overcome this crisis: Abdel-Aal
The regulations were a new shock to banks that did not obtain dollars from the CBE
It maintained the exchange rate of the dollar against the pound at this periodic auction at EGP 7.73, which led to stabilising the dollar price at banks at a bidding price of EGP 7.78 and an asking price of EGP 7.83.
EGPC acquired $160m in October instead of $700m, says official
Last week CBE issued $1bn as part of bank’s plan to flood the market with a total of $4bn to meet the requests for foreign currency in import contracts
These certificates can be bought in dollars and other foreign currencies, with interest being paid in Egyptian pounds, in a move aimed at providing foreign liquidity to the bank.
Loans to be received in pounds and repaid in dollars; we are awaiting a reply within two days, says Tourism Investment Association head
700 banks around the world use our major programme T24
Initial results indicate that foreigners are intensifying sales to make a profit margin from transferring their money abroad in dollars
Anticipating the central bank’s next move is difficult, says banker
CBE provided $1bn from a total of $4bn to meet the requests for foreign currency in import contracts
Dollar fell in black market for hours until it suddenly stopped
The central bank will also cover 25% of the temporary credit facilities granted by banks to their clients importing in foreign currencies