Latest in Tag: US dollar Highlight

Latest in Tag: US dollar


US dollar loses 5 piasters against Egyptian pound on Wednesday

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 …

Hossam Mounir

US dollar on its way out as world’s lead currency?

Tumbling emerging market currencies, including the Russian ruble, have caused Moscow to publicly wish for the “demise” of the greenback from global finance. Lars Halter examines how realistic such a wish actually is?If the stability of a currency is entirely linked to the confidence in the issuer of the currency, then it does not look …

Deutsche Welle

Travel ban, strong dollar seen putting damper on US tourism sector

Travel and tourism’s contribution to the US economy will grow at a slower pace this year than in 2016, the World Travel and Tourism Council (WTTC) has said.US President Donald Trump earlier this month signed a revised executive order banning citizens from six Muslim-majority nations from travelling to the United States, which some have warned …

Deutsche Welle

US dollar squeezed by cautious Fed

The US currency has suffered painful losses in Asian trading while sovereign bonds gained strongly after the US Federal Reserve raised interest rates, but signaled no pick-up in the pace of tightening.Asian investors breathed a sigh of relief on Thursday as fears for faster US interest rate hikes diminished and political upheaval in Europe failed …

Deutsche Welle

Dollar breaks EGP 17, driven by shortage at banks 

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 …

Hossam Mounir

Reducing price of products depends on stability of US dollar

After the Ministry of Finance reduced the price of the US dollar used for customs to EGP16, down from EGP18.5 on 16 February, media outlets stated that the prices of a lot of products will decrease soon. The prices of almost all products have hiked during the previous months after the Central Bank of Egypt …

Hisham Salah

US dollar supply at banks increase, demand cools 

Banks operating in the local market are experiencing a US dollar supply increase while demand has cooled in recent days, according to Tamer Youssef, head of treasury at a bank operating in the domestic market. Banks have seen significant demand for the dollar during December and the first days of January because foreign companies operating …

Hossam Mounir