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"CBE"

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Business - Economy
11/30/2022 12:36:44 PM
The Central Bank of Egypt (CBE) has called off its low-interest initiatives for the private sector in the industry, agriculture, and construction fields, said CBE Deputy Governor Gamal Negm on Tuesday.

Business - Economy
11/27/2022 8:26:30 PM
The Central Bank of Egypt offered on Sunday Egyptian pound-backed treasury bills (T-bills) with a total value of EGP 28.5 billion over two maturity types.

Business - Economy
11/27/2022 2:43:00 PM
The Central Bank of Egypt (CBE) launched on Sunday its financial inclusion strategy for 2022-2025 that sets key objectives and priorities for creating financial inclusion in the country.

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11/27/2022 12:00:56 PM
The CBE’s 200 bps policy rate hike aligned with our previously announced expectations of a 200 bps interest rate increase before year-end, which should help contain inflation, which reached 15.0% in September, and makes carry-trade more attractive.

Business - Economy
11/21/2022 2:42:04 PM
The Central Bank of Egypt (CBE) issued on Monday a circular to banks operating in the Egyptian market announcing they will no longer manage low-interest rate initiatives issued by the bank across several sectors in the country, handing off the responsibility to the Ministry of Finance

Business - Economy
11/10/2022 2:52:00 PM
Egypt’s annual headline inflation rose from 15 percent in September to 16.2 percent in October to surpass the 15.7 percent mark registered in November 2018, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced on Thursday.

Business - Economy
11/9/2022 6:08:51 PM
The Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, has deposit $1 billion into the Central Bank of Egypt, which paves the way for the authority to pump new investments into the Egyptian market, Bloomberg said on Wednesday.

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
11/3/2022 8:49:22 PM
The Egyptian pound’s exchange rate against the US dollar dropped on Thursday to EGP 24.2 for buying and EGP 24.3 for selling, according to the Central Bank of Egypt (CBE) official exchange rate.

Business - Economy
11/3/2022 3:25:56 PM
Egypt's net international reserves (NIRs) registered $33.4 billion in late October, an increase of $214 million over its volume in September, the Central Bank of Egypt (CBE) said Thursday.

Business - Economy
11/2/2022 9:04:23 PM
The Egyptian pound’s exchange rate against the US dollar has remained almost unchanged at EGP 24.2 on Wednesday, weakening by more than 22 percent following a sharp depreciation last Thursday, according to figures by the Central Bank of Egypt (CBE).

Business - Economy
11/1/2022 5:43:00 PM
The Egyptian pound’s exchange rate declined to 24.2 against the US dollar at the end of Tuesday’s trading a few days after Egypt announced that it was adopting a "durably flexible" exchange rate regime in conjunction with a deal with the International Monetary Fund (IMF).

Business - Economy
10/27/2022 2:23:11 PM
The Central Bank of Egypt (CBE) has raised the exception limit of letters of credit (LCs) for imported shipments from $5,000 to $500,000 starting today, the bank announced on Thursday.

Business - Economy
10/27/2022 1:53:00 PM
Banque Misr has raised the annual yield of the three-year saving certificates to 17.25 percent, the bank announced on Thursday.

Business - Economy
10/27/2022 1:41:00 PM
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has raised the key interest rates in an unscheduled meeting by two percent (200 bps) to reach 13.25 percent, 14.25 percent, 13.75 percent, and 13.57 percent for the overnight deposit rate, the overnight lending rate, the rate of the main operation, and the discount rate, respectively.

Business - Economy
10/27/2022 12:20:30 PM
The National Bank of Egypt (NBE) issued on Thursday a three-year-maturity platinum saving certificate with an annual yield of 17.25 percent.

Business - Economy
10/27/2022 11:58:24 AM
The Central Bank of Egypt (CBE) announced in a statement released on Thursday that it will begin a process of phasing out letters of credit (LCs) for import finance by December 2022.

Business - Economy
10/25/2022 8:31:23 PM
The letters of credit system for imports will be cancelled within two months in coordination with the Central Bank of Egypt (CBE), the Egyptian prime minister said, adding that the national strategy for the Egyptian industry will be launched within three months at maximum.

Business - Economy
10/24/2022 12:43:51 PM
Coherence between the monetary and financial policies are crucial for the Egyptian economy to navigate the ongoing global economic crisis, especially the accelerating inflation, said Egypt’s former Minister of Planning and International Cooperation Ashraf El-Araby.

Business - Economy
10/23/2022 11:24:36 PM
The Central Bank of Egypt (CBE) is working on setting an index for the Egyptian pound that will be linked to a basket of gold and other currencies besides the US dollar, the CBE’s acting governor Hassan Abdalla said on Sunday.

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