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" Devaluation"

138 results

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
3/14/2024 11:27:00 PM
The Central Bank of Egypt’s landmark decision to float the Egyptian pound was the latest in a long history of devaluations.

Al-Ahram Weekly - Egypt
3/13/2024 10:16:00 PM
Al-Ahram Weekly looks at the pros and cons of the devaluation and high-interest rates.

Al-Ahram Weekly - Egypt
3/12/2024 8:28:53 PM
Al-Ahram Weekly gauges people’s concerns following the liberalisation of the exchange rate.

Al-Ahram Weekly - Egypt
3/12/2024 8:24:21 PM
With devaluation off the to-do list, what next for policy-makers, asks Niveen Wahish

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.

Business - Economy
1/30/2024 1:32:22 PM
S&P Global Rating Agency expects that Egypt is likely to devalue its currency to align it more accurately with the parallel market rate, according to a recent report released by the agency.

Business - Economy
1/22/2024 2:40:20 PM
Egypt may devalue the Egyptian pound to bridge the gap with its traded rate in the parallel market, said Fakhry El-Fiqi, head of the Planning and Budget Committee in the House of Representatives.

Business - Economy
1/21/2024 10:37:24 AM
Cabinet Spokesperson Mohamed El-Homsany said that claims about a possible devaluation of the Egyptian pound against the dollar, coinciding with the visit of the International Monetary Fund (IMF) delegation to Egypt, are mere speculation.

Business - Economy
1/2/2024 4:06:53 PM
Egypt has set a target of attracting $12 billion in foreign direct investments (FDIs) during the fiscal year (FY) 2023/2024, which ends in June, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), said on Tuesday.

Business - Economy
12/16/2023 7:54:53 PM
British bank HSBC projected the Egyptian pound to experience devaluation, reaching EGP 40-45 against the US dollar, during the first quarter of 2024, according to a report by the bank on Friday.

Business - Economy
11/8/2023 4:00:00 PM
Egypt’s major tobacco producer Eastern Company raised the prices of its products to absorb part of the rising costs of production inputs after the devaluation of the Egyptian pound, the company’s Chairman Hany Aman told Ahram Online on Wednesday.

Business - Markets & Companies
10/26/2023 10:32:55 PM
The Egyptian Exchange (EGX) indices achieved unprecedented jumps during the week that ended on 26 October as devaluation rumours attracted more investors to the stock market.

Business - Economy
10/25/2023 4:20:19 PM
The Israeli war on Gaza has driven the Egyptian pound down to a record low on the parallel market, where it is now trading for EGP 46 against the US dollar, said Ramona Moubarak, head of MENA Country Risk at Fitch Solutions.

Business - Economy
10/12/2023 8:46:58 PM
Egypt does not have to conduct any devaluation of its currency until the end of 2024, according to a report by the UK-based multinational Standard Chartered Bank.

Al-Ahram Weekly - Egypt
10/10/2023 11:32:34 PM
The government is dealing with the repercussions of a decision to postpone any further devaluation of the pound, reports Sherine Abdel-Razek

Business - Economy
10/10/2023 4:03:45 PM
The Central Bank of Egypt (CBE) is expected to reach an agreement with the International Monetary Fund (IMF) in early 2024 to peg the pound to a basket of international currencies and gold, according to Fakhry El-Fiqi, head of the Planning and Budget Committee in the House of Representatives.

Al-Ahram Weekly - Economy
9/2/2023 9:43:00 AM
The hike that the Central Bank of Egypt (CBE) applied to Egypt’s key interest rates last week could be a sign of further hikes up until the end of 2023 since three further meetings of the CBE’s Monetary Policy Committee (MPC), responsible for deciding on interest rates, have yet to be held.

Al-Ahram Weekly - Opinion
8/1/2023 8:10:33 PM
The current economic challenges present an opportunity for Egypt to reevaluate its policies, writes Gamal Wagdy

Business - Economy
7/30/2023 6:44:33 PM
Egyptian companies operating in the consumer sector are expected to achieve higher profits during the fourth quarter of 2023, according to a report by HSBC Global Research published on Friday.

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