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" FX"

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Business - Economy
7/10/2024 10:55:48 PM
BMI, a Fitch Solutions company, expected the Central Bank of Egypt (CBE) to keep its monetary tightening policy on hold, which means keeping the current key interest rates unchanged till the end of 2024 in response to the downturn path of the country’s inflation.

Business - Economy
5/23/2024 12:10:00 PM
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will convene Thursday to decide on key interest rates for the last time in FY2023/2024, amid expectations that it will maintain the current interest rates as inflation rates have started to take a downward path over the past two months.

Business - Economy
5/19/2024 10:43:56 PM
Fitch Ratings has revised its outlook on four Egyptian banks to positive from stable, affirming their long-term issuer default ratings at B-, the US-based credit rating agency announced on Saturday.

Business - Economy
5/4/2024 6:47:00 PM
Fitch Ratings upgraded its outlook for Egypt's Long-Term Foreign-Currency Issuer (LFTC) to positive from stable while affirming its issuer default rating at B-, the credit rating agency announced in its report on Egypt on Friday.

Business - Economy
4/30/2024 5:23:29 PM
The recent unification of the foreign exchange rate in Egypt will contribute to attracting more foreign direct investments into the country, Ramy Amin, co-founder and managing director of the UAE-based Freezoner, told Ahram Online.

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.

Business - Markets & Companies
1/16/2024 4:36:00 PM
The USD parallel market rate, EGX indices, and gold prices reached new record highs on Tuesday.

Business - Economy
1/11/2024 11:28:49 AM
Egypt’s securitization of FX revenue will not affect assets, says Sherif Samy, former chair of Financial Regulatory Authority

Business - Economy
1/8/2024 2:13:11 PM
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal, and outsourcing services to $300 billion in 2030 from around $100 billion, according to a government document released this month.

Business - Economy
1/7/2024 2:00:50 PM
Egypt’s real GDP growth is projected at 4.1 percent in 2024 and the US dollar exchange rate to jump to EGP 39.7 through end of the year, BMI Country Risk and Industry Analysis, one of Fitch Solutions’ services, said in a new report shared with Ahram Online.

Business - Economy
10/26/2023 12:42:16 PM
S&P Global has revised down the long-term credit ratings for three Egyptian banks; including two major state-owned banks, to B- from B.

Business - Economy
6/20/2023 4:18:07 PM
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that Egypt needs to work on preventing the leakage of foreign exchange (FX) reserves caused by the multiple exchange rates.

Business - Economy
3/14/2023 11:09:51 PM
The International Monetary Fund (IMF) is set to conduct on Wednesday 15 March its first review under the Extended Fund Facility (EFF) four-year arrangement $3 bln loan deal.

Business - Economy
2/3/2023 3:59:46 PM
Could Egypt lower its dependency in the short term on "hot money" as a source of securing liquidity in foreign exchange amid the government's plan to focus on attracting more direct investments in a longer term strategy for strengthening the economy? Ahram Online asked various analysts.

Business - Economy
1/10/2023 9:22:09 PM
Egypt has committed to the International Monetary Fund (IMF) to endure structural reforms in its macroeconomic schemes, fuel prices and foreign exchange policies (FX) as well as its debt structure among several monetary and fiscal policies, according to the fund staff report released on Tuesday.

Business - Economy
12/7/2022 6:30:51 PM
​Egypt will receive the first tranche of its $3 billion IMF loan immediately after the IMF board meeting on Friday 16 December, or within 10 days, said head of the House's Budget Committee Fakhri El-Fiqi, who affirmed the loan will help shore up the country's foreign currency reserves.

Business - Economy
11/3/2021 6:37:56 PM
Egypt’s net foreign reserves increased slightly by $29 million in October, reaching $40.84 billion, up from $40.82 billion recorded in August, the Central Bank of Egypt (CBE) announced on Wednesday.

World - International
2/22/2021 4:13:24 PM
President Tayyip Erdogan on Monday defended a policy that oversaw a steep drop in FX reserves under former finance minister Berat Albayrak, his son-in-law, saying it helped Turkey to ride out pandemic-related shocks

World - Region
10/30/2020 2:19:42 PM
Geopolitical tensions in the Caucasus & the eastern Mediterranean exacerbated the lira's decline, putting it on course to lose 7.9% to the dollar in October, its worst monthly decline since the height of the 2018 economic crisis

World - Region
10/26/2020 12:21:58 PM
The lira sank 1.2% to breach 8 to the dollar, weighed by fighting in the Nagorno-Karabakh region that threatened to upset a new ceasefire and tensions between Ankara and Athens over a disputed area in the eastern Mediterranean

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