Latest Banking News
US dollar loses EGP 0.10 on informal market reaching EGP 12.40
Informal market started lowering the selling prices of the US dollar after…
Bankers weigh in on the proposal to convert government’s debt to banks into shares in national projects
Some believe it is feasible while others claim it is fruitless
A new start needed for Italy’s banks?
The Italian finance professor Claudio Zara calls for flexibility in eurozone rules…
British retail bank Lloyds announces more job cuts
Lloyds Banking Group has said it will have to speed up its…
US dollar loses over 50 piastres on informal market following announcement of $12bn loan from IMF
The US dollar is likely to see more depreciation in the coming…
Dollar shortage created an inflationary recession in the local market: investors
Manufacturers rely on the informal market for US dollars, and securing 25%…
High prices, inflation increase not behind CBE’s decision to keep pound’s price against US dollar: analysts
The devaluation of the Egyptian pound against the US dollar is one…
CBE stabilises US dollar exchange rate, further confuses market
The Central Bank of Egypt (CBE) stabilised the US dollar exchange rate…
57% of Egypt’s companies are isolated from banks’ finance: EIB chief economist
Despite the progress accomplished by the government, effort is still needed to…
Hike of US dollar strengthens currencies against Egyptian pound
Pound sterling jumps to EGP 16 and euro to EGP 13, while…