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Deputy governor admits that attempts to preserve pound to demonstrate strength of economy have caused foreign currency reserves to lose value
The recurrent rise in the dollar’s exchange rate reflected on the price of imported goods such as steel, sugar and wheat and risks of triggering an inflationary wave
Egypt is about to face an economic nuclear winter
The Central Bank reaffirmed its commitment to pay the instalments and interest of foreign debts
Egypt Central Bank Battle, Budget Deficit Under Morsy, Retail Always Wins
The governor of the Central Bank of Egypt (CBE) Farouk Al-Oqda denied tendering his resignation after attending the cabinet’s economic committee meeting Sunday. Rumours concerning the resignation of Al-Oqda spread after President Morsy’s meeting with Hisham Ramez, deputy governor of the CBE. State TV reported Saturday that Al-Oqda resigned and that he will be replaced …
President Morsy will issue a declaration in a few days to amend 2 articles of the presidential decree number 64 for 2004 governing the Central Bank of Egypt, according to state-owned Al-Ahram. The cabinet has already approved the modification to the law that was issued by the Supreme Council of Armed Forces (SCAF) last year. …
Banque Misr and the Principal Bank for Development and Agricultural Credit , amongst others, exempted
The banks as well as the stock market are ready to implement electronic signature technology, which is to be inaugurated by November, capital market expert, Moustafa Badra, told the Daily News Egypt. An electronic signature can be as simple as a typed name or a digitised image of a handwritten signature; it can facilitate the …
Monescope Egypt, a monthly tracker of monetary developments attached to Belton Financial, reports that M2 grew 8.9 per cent in August, compared to 8.1 per cent in July.
In its meeting Thursday, the monetary policy committee in the Central Bank of Egypt has decided to fix the interest rates on deposits at 9.25 per cent and on the one night lending at 10.25 per cent for the seventh time since February, in an attempt to maintain the bank’s monetary policy and to control …
The Turkish loan to Egypt has triggered a political crisis in Turkey.
Central Bank of Egypt officials say they are committed to keeping Egypt’s pound and foreign reserves stable, but do not have a “magic number” targeted