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" Currency"

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Business - Economy
4/1/2024 5:17:23 PM
Egyptian markets are preparing for a considerable decrease in prices of poultry and eggs starting Tuesday, as the government aims to slash prices of food commodities by 30 percent in the coming weeks in collaboration with the private sector.

Business - Economy
3/29/2024 6:09:44 PM
The exchange companies affiliated with Egypt's three largest state-owned banks have collected foreign currency proceeds surpassing EGP 7.5 billion in total since the devaluation of the Egyptian pound on 6 March, the companies' chiefs told the state news agency MENA.

Al-Ahram Weekly - Egypt
3/28/2024 11:24:00 PM
Moves to increase the ceiling on foreign currency transactions on Egyptian credit cards have been hailed by individuals and startups.

Business - Economy
3/18/2024 5:21:23 PM
The US dollar rate has continued to decline against the Egyptian pound since the Central Bank of Egypt (CBE) announced on 6 March that it would let the value of the local currency be set by market forces.

Business - Economy
3/10/2024 1:50:00 PM
Head of Egypt’s Banks Federation Mohamed El-Etreby urged caution amid an influx of hard currency into Egypt in the form of hot money following the flotation of the Egyptian pound and an increase in interest rates.

Egypt - Politics
3/9/2024 10:45:00 PM
President Abdel-Fattah El-Sisi said on Saturday that the government's decision last week to adopt a flexible exchange rate would have not been possible without securing “a significant influx of funding.”

Business - Economy
3/8/2024 2:16:58 PM
Credit-rating company Moody's Ratings (Moody's) has revised the outlook on Egypt to positive from negative amid game-changing economic measures, including the flotation of the Egyptian local currency and an increase in interest rates.

Business - Economy
3/7/2024 8:04:00 PM
The Egyptian pound averaged EGP 49.3 against the US dollar in most major banks at the closing of Thursday's trading just 24 hours after the Central Bank of Egypt (CBE) floated the local currency against the greenback.

Egypt - Courts & Law
3/7/2024 8:02:25 PM
The Administrative Control Authority (ACA) has busted a gang of employees of the civil aviation sector for their involvement in illicit foreign currency trading, embezzlement, profiteering and abuse of public funds.

Business - Economy
3/6/2024 1:02:19 PM
The Central Bank of Egypt (CBE) has instructed local banks to lift the spending limit on foreign currency credit cards. The decision is part of a broader economic reform programme implemented by the CBE and the government, with the backing of international partners.

Business - Economy
2/18/2024 6:38:38 PM
Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country.

Al-Ahram Weekly - Egypt
2/12/2024 10:34:00 AM
The Ministry of Education and Technical Education has warned international schools from accrediting certificates and collecting fees in foreign currency, reports Reem Leila

Egypt - Urban & Transport
2/8/2024 8:45:29 PM
Prime Minister Mostafa Madbouly announced on Thursday the formation of a legal and technical committee within the cabinet to evaluate investment proposals for projects expected to generate substantial foreign currency revenues ahead of proceeding with a much-anticipated Ras El-Hikma $22 billion tourism development project in the North Coast.

Al-Ahram Weekly - Egypt
2/6/2024 8:53:42 PM
Hopes are high for an end to Egypt’s foreign currency crunch, write Niveen Wahish and Sherine Abdel-Razek

Business - Economy
2/5/2024 6:58:33 PM
The Central Bank of Egypt (CBE) announced Monday an increase in the reserves of foreign currencies by about 30 million dollars.

Egypt - Society
2/2/2024 1:42:32 PM
The Ministry of Education warned several international schools that charging fees in foreign currencies is a violation of the law after receiving various complaints from parents.

Business - Economy
2/1/2024 5:07:01 PM
The Central Bank of Egypt (CBE) stated it has not issued new directives regarding adjustments to the daily withdrawal limit in Egyptian pounds for individuals and corporations, read a CBE statement.

Business - Economy
1/31/2024 6:25:28 PM
The Central Bank of Egypt (CBE) has reduced the daily cash withdrawal limits in Egyptian pounds for corporations and individuals to EGP 150,000, according to a message sent to banks on Wednesday.

Business - Economy
1/31/2024 4:36:22 PM
The US dollar rate in Egypt’s currency parallel market has soared to a new peak, hitting EGP 72 per USD, multiple sources in the local market reported to Ahram Online.

Al-Ahram Weekly - Opinion
1/30/2024 9:34:52 PM
Gamal Wagdy advises against securitising dollar revenues from Egypt’s main hard-currency earners like the Suez Canal

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