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" Currency"

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Egypt - Society
11/14/2022 9:53:04 PM
The Cabinet announced on Monday the executive regulations for a law that allows Egyptian expats to import cars for personal use without paying customs duties for four months to attract hard currency.

World - International
11/11/2022 5:54:22 PM
The European Union's executive commission slashed its forecast for economic growth next year, saying the 19 countries that use the euro currency will slide into recession over the winter as peak inflation hangs on for longer than expected and high fuel and heating costs erode consumer purchasing power.

Al-Ahram Weekly - Egypt
11/8/2022 10:50:01 PM
The Central Bank of Egypt is gradually meeting demands by the country’s importers for more hard currency, reports Safeya Mounir

Business - Economy
10/27/2022 10:59:19 PM
Gold prices in the Egyptian market recorded a remarkable increase on Thursday a few hours after the latest rise in the value of the US dollar against the Egyptian currency and the rise of key interest rates.

Business - Economy
10/27/2022 10:00:48 PM
The US dollar exchange rate recorded a rise of 3.15 pounds at the end of Thursday's transactions at Egypt's major banks.

Business - Economy
10/27/2022 4:09:08 PM
The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates Thursday at the fastest pace in the euro currency's history and raising questions about how far the bank intends to go with the threat of recession looming over the economy.

Business - Economy
10/23/2022 3:49:10 PM
Egypt’s Prime Minister Mostafa Madbouly affirmed on Sunday that Egypt prioritises curbing inflation over the issue of exchange rate, stressing that the devaluation of the Egyptian pound does not mean that the economy is in a bad situation.

Al-Ahram Weekly - Egypt
10/20/2022 10:54:00 AM
Egypt is anticipating its fourth loan from the International Monetary Fund in order to boost the economy, increase foreign-currency reserves, and cushion the effects of the global inflationary wave.

Business - Economy
10/16/2022 9:16:12 PM
Egypt expects to attract foreign currency worth around EGP 50 billion ($2.5 billion) from the four-month initiative announced recently by the government that allows Egyptians expats to import personal cars free of customs duties or taxes, Finance Minister Mohamed Maait said on Sunday.

World - Africa
10/15/2022 2:54:07 PM
Ethiopia has ordered banks to deny foreign currency to businesses importing non-priority goods, in an effort to shore up dwindling foreign reserves in one of Africa's major economies.

Business - Economy
10/12/2022 11:07:29 PM
The Egyptian Cabinet approved on Wednesday a draft law allowing Egyptians living abroad or their families to have one personal-use vehicle shipped to Egypt without paying customs duties or taxes, including the value-added tax (VAT).

World - Region
9/28/2022 5:37:08 PM
Lebanon will weaken its official exchange rate for the first time in more than two decades, a central bank official said, as part of efforts to tackle a crippling financial crisis.

Business - Economy
9/28/2022 2:51:00 PM
The Egyptian pound plunged to a new low against the US dollar on Wednesday amid a shortage in foreign currency in the country.

Al-Ahram Weekly - Egypt
9/23/2022 12:51:00 PM
The government is refining strategies to attract hard currency.

World - Region
9/22/2022 3:46:36 PM
Turkey's currency fell to a record low against the dollar before a central bank meeting on interest rates Thursday, expanding the pain for people who have seen their purchasing power erode during a series of economic shocks in the country.

World - Region
9/20/2022 10:08:48 AM
Protesters scuffled with Lebanese security forces Monday outside the Justice Ministry in Beirut, demanding the release of two people arrested last week during a bank heist.

World - Region
9/19/2022 12:24:12 PM
The Lebanese pound has hit a new low against the US dollar on the black market, a drop that coincides with bank closures this week due to heists by angry depositors.

Business - Economy
9/17/2022 8:59:22 PM
Moscow uses local currency settlement mechanism in trade exchange between Russia and Egypt - mutual acceptance of payments in the Russian ruble or the Egyptian pound - amid western sanctions that have blocked the country's access to the dollar and euro since the start of the Ukraine crisis, Russian Ambassador to Cairo Georgy Borisenko said.

World - International
8/31/2022 12:27:34 PM
While global supply pressures have been easing in recent months, "specific European problems continue to push inflation higher," ING Bank economist Bert Colijn wrote in an analyst note. "The gas supply crisis and droughts are adding to persisting supply-side pressures on inflation at the moment."

Al-Ahram Weekly - Egypt
8/26/2022 5:35:00 PM
With a new governor at the helm of the Central Bank of Egypt, Al-Ahram Weekly examines likely changes to monetary policy.

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