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Egypt buoyed up by recent IMF’s, international market’s cash injections estimated at $10bn
Egypt’s import bill has generally decreased, on back of commensurate decrease in demand for foreign exchange, says economic expert
Mobile prices also affected by higher shipping costs on back of global pandemic
Egypt’s foreign reserves fall to $36.0037bn in May, from $37.037bn in April, says CBE
Like all currencies worldwide, local currency bound to be affected by current exceptional circumstances
On Monday, the official price of the dollar at the Central Bank of Egypt (CBE) reached EGP 15.6543 for buying and EGP 15.7761 for selling, compared to EGP 15.5865 for buying and EGP 15.713 for selling on Sunday.
The official price of the dollar at the Central Bank of Egypt (CBE) on Monday reached EGP 15.5856 for buying, and EGP 15.7149 for selling, compared to EGP 15.4784 pounds for buying, and EGP 15.6071 for selling on 23 February.
Banque Misr received $2bn in January, $15.6bn in 2019: El-Etreby
The Egyptian pound appreciated by about 14 piasters against the US dollar since last Wednesday, gaining on Monday about 6 piasters in comparison to Sunday’s exchange rate, which was EGP15.92 to sell and EGP16.05 to buy.
The average official price of the US dollar at the Central Bank of Egypt (CBE) fell to EGP 16.2186 for buying and EGP 16.3186 for selling on Sunday, down from EGP 16.2669 for buying and EGP16.3669 for selling last Thursday.
Haftar’s Tripoli offensive could spiral out of control, yet fiscal deficit expected to narrow
US currency lost over EGP 1 since beginning of 2019, including 34 piasters in May
US dollar loses 2 more piasters on Sunday to take losses to 75 piasters since mid-January 2019
The US dollar lost about five piasters from its value against the Egyptian pound on Wednesday, averaging EGP 17.21 for buying and EGP 17.31 for selling, down from EGP 17.26 for buying and EGP 17.36 for selling on Tuesday. The official US dollar price in the Central Bank of Egypt lost between 3-4 piasters, reaching …
Pound value against dollar gains over 23 piasters in March, 62 piasters since January
Banks receive over $4bn FX inflows in January, February, says senior bank official
US currency lost 8.11 piasters last week, losing 49 piasters since January 2019
Although there is no immediate pressure on currency to weaken, yet uncertainty over exchange rate will likely lead to fewer foreign inflows
Market watching exchange trade trend, amid expectations of further appreciation of pound
Bank forecasts a current account surplus of 1.4% of GDP in 2019/20, as per report
Fluctuation is healthy under supply, demand, says Abdel Aal
Local currency began appreciating again by 21 piastres in four days, market awaits its trend until the end of the year
Demand on USD for Ramadan importations accelerate pound depreciation
In November, the Egyptian administration floated the Egyptian pound to secure a loan from the International Monetary Fund (IMF)
Experts, businesspeople, and investors remain unsure about whether the prices will be hiking or dropping in the future
USD price at banks stood at EGP 17.55 to buy, and EGP 17.70 to sell
The US dollar exchange rate to the pound exceeded EGP 17.5 on Tuesday, marking its highest level over the past two weeks. The depreciation comes as demand builds up to cover importation, leaving banks with a shortage. The greenback began a wave of strengthening again since last week, continuing its movement upwards to reach EGP …
17% think it will reach EGP 13-15; 25% expect it to rise above EGP 17; 8% said it will fall below EGP 13
The price of the pound against the dollar will reach equilibrium in the fourth quarter of 2017: Youssef