Latest in Tag: dollar Highlight
Latest in Tag: dollar
The lira weakened beyond 2.33 to the dollar, meaning Turks now need more than twice as many lira to buy dollars as they did at the currency’s peak six years ago, a costly decline in a nation heavily dependent on imports.
Two market participants said the dollar was offered for 7.42 pounds in the black market on Thursday.
On the black market the pound was trading on Monday at 7.33/7.36, weaker than Tuesday’s rate of 7.31/33 to the dollar, two traders said.
Reuters – The Egyptian pound was steady at official rates on Thursday, the central bank said, and slightly stronger in the black market, two sources said – a day after the bank’s governor said that parallel market for dollars would “not last long”. The central bank sold $38.4 million at its regular foreign exchange auction …
The central bank introduced dollar sales last December to help counter a run on the pound.
The central bank said it sold $38.8m to banks at its auction, at a cut-off price of EGP 6.8773 to the dollar, compared with 6.8774 at a sale on Thursday.
The central bank said it sold $38.8 million to banks at its auction, at a cut-off price of 6.8774 pounds to the dollar
The central bank said it sold $38.8 million to banks at the auction, with a cut-off price of 6.8776 pounds to the dollar, compared with 6.8778 at the sale on Thursday.
No predictions on when the market will pick up again: Head of the gold division at the chamber of commerce
Reuters – Egypt’s pound gained slightly at a central bank foreign- currency sale on Thursday. The central bank said it sold $38.8 million to banks at the auction, with a cut-off price of 6.8778 pounds to the dollar, compared with 6.8781 at the sale on Wednesday. The central bank introduced dollar sales last December to help …
The central bank sold $38.8m with a cut-off price of EGP 6.8786 per dollar versus EGP 6.8787 at its 7 November auction, the bank said.
A significant drop in the number of Egyptian millionaires echoing the decline of Egyptian wealth level
Obama had hoped to use the trip to make progress in concluding initial talks on a Trans-Pacific Partnership trade pact.
The euro also declined against the Japanese currency, trading at 130.62 yen compared with 131.35 yen the prior day.
The value of the Egyptian pound recovers slightly after 2-week long depreciation.
“The Syrian lira is the only currency” allowed in business and commerce
According to a statement on the bank’s website, the discount and repurchasing rates and deposit operations are now lowered to 9.75%.
The index of the US dollar internationally declined 1.5%.
Saudi-Egyptian business council tells Al-Eqtisadiah newspaper Saudi investments in Egypt will be negatively affected by declining pound
Banking expert Bassant Fahmy said she does not expect dollar prices to increase.
Despite the optimism, the current political insecurity and the unsettled International Monetary Fund loan are seen as contributors to the weakening of the pound against the dollar.
Shortages in coming year expected because of increases in the price of the dollar
Egypt’s currency continues to devalue despite attempts by Central Bank to slow the decline with foreign currency auctions
Black market now real determiner of gold prices, says gold expert at Cairo Chamber of Commerce
Exchanges attribute rise to increased demand from importers
Citizens Against Price Rises demands Egypt’s Central Bank intervene to address the issue
Deputy Head of Chamber of Hotels criticises Ministries of Antiquities and Tourism, who will ask tourists to make a $1 donation per night stayed at an Egyptian hotel to contribute funds to help build Grand Egyptian Museum
New rate only weeks after hitting high at official exchange rates
Exchange market stabilises as demand for dollar retreats
Government officials announced that Egypt’s current overall wheat inventories will cover the remainder of 2013. The country, however, still struggles to secure enough foreign currency to continue importing wheat