currency depreciation
Egypt’s currency expected to be devalued after presidential elections
Economy
September 6, 2023
Egypt’s currency expected to be devalued after presidential elections
Former Assistant Finance Minister Sherine al-Shawarby on Tuesday announced that a new devaluation for the Egyptian pound is expected after…
Contractors report 70% rise in materials prices as dollar soars
Business
January 22, 2015
Contractors report 70% rise in materials prices as dollar soars
Egyptian building contractors have reported a 70 percent surge in the prices of building materials and related commodities, attributed to…
Pound hits record low
Business
January 8, 2013
Pound hits record low
The Egyptian pound hit a record low on Tuesday after weakening again at a Central Bank US dollar auction designed…
FJP slams central bank for dollar rise
Egypt
January 2, 2013
FJP slams central bank for dollar rise
The Freedom and Justice Party’s economic committee head Abdallah Shehata is blaming the Central Bank for the dollar's rise against…
IMF: Arab Spring economies to recover slowly in 2013
Business
November 11, 2012
IMF: Arab Spring economies to recover slowly in 2013
Most economies hit by the Arab Spring uprisings will recover only slowly next year as they grapple with high inflation…
IMF recommends govt let pound float, officials deny devaluation talk
Business
November 4, 2012
IMF recommends govt let pound float, officials deny devaluation talk
An October report from IMF’s Tokyo meeting, which Egyptian officials attended, recommends that the government allow the country’s currency to…
Iran imposes currency cap to combat rial’s plunge
World
October 6, 2012
Iran imposes currency cap to combat rial’s plunge
TEHRAN — Iran on Saturday sought to reverse a collapse of its currency by imposing a fixed dollar rate, days…
Looming devaluation of Egyptian pound may have lasting effects
Business
February 13, 2012
Looming devaluation of Egyptian pound may have lasting effects
With a loan deal between Egypt and the International Monetary Fund still uncertain and foreign investors still wary of returning,…
IMF sending mission to Egypt for aid negotiations
Business
January 12, 2012
IMF sending mission to Egypt for aid negotiations
The International Monetary Fund confirmed Thursday it was sending a mission to Egypt to discuss possible financial aid to the…