local currency

Eight banks increase US dollar exchange rate
Business

Eight banks increase US dollar exchange rate

Eight banks have raised their exchange rates for the US dollar between three to eight piasters, after three weeks of…
Egypt’s fuel subsidy bill jumps after currency float
Business

Egypt’s fuel subsidy bill jumps after currency float

Egypt's fuel subsidy bill jumped 46 percent to 38 billion pounds ($2.11 billion) in the first half of the 2016-17…
Egypt pound hits 5.8 to the dollar; food prices inch upwards
Business

Egypt pound hits 5.8 to the dollar; food prices inch upwards

Food prices were subject to several incremental increases this year due to a corresponding rise in the value of the…
Egyptian pound falls to lowest level against dollar since 2007
Business

Egyptian pound falls to lowest level against dollar since 2007

The Egyptian pound has fallen steadily against the US dollar over the past two weeks, with analysts partly attributing the…
Coinage pumped into local market to meet Ramadan liquidity demand
Business

Coinage pumped into local market to meet Ramadan liquidity demand

The Ministry of Finance disbursed some LE14.9 million worth of coinage into the Egyptian market in August in an effort…
Economists fear impact of Egypt pound’s slide against dollar
Business

Economists fear impact of Egypt pound’s slide against dollar

After declining sharply since mid-July, the Egyptian pound fell to 5.69 against the US dollar on Wednesday, representing its lowest…
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