US dollar
Exchange companies demand higher rate of deposit
Business
April 4, 2015
Exchange companies demand higher rate of deposit
Exchange firms are suffering from a shortage of US$100 bills as a result of the Central Bank of Egypt's (CBE)…
CBE bans exchange of US$100 bills to counter smuggling
Business
March 30, 2015
CBE bans exchange of US$100 bills to counter smuggling
The Central Bank of Egypt (CBE) has decided to ban the exchange of US$100 bills for banking clients and has…
Egyptian pound steady at official auction, weaker on black market
Business
February 25, 2015
Egyptian pound steady at official auction, weaker on black market
Egypt's central bank kept the pound steady at LE7.53 to the dollar at a foreign exchange auction on Wednesday but…
Steel factories may halt operations over dollar shortage
Business
February 19, 2015
Steel factories may halt operations over dollar shortage
Several steel manufacturers have revealed that they might stop their productions within the next few days, citing bank’s inability to…
Experts torn on Egypt’s drop to USD in trade exchanges with Russia
Business
February 15, 2015
Experts torn on Egypt’s drop to USD in trade exchanges with Russia
The two-day visit of the Russian president Vladimir Putin to Egypt resulted in many pivotal outcomes, including dropping the use…
Central bank: Egypt’s pound hits new low of LE7.39 per dollar
Egypt
January 22, 2015
Central bank: Egypt’s pound hits new low of LE7.39 per dollar
Egypt's pound weakened to LE7.39 per dollar from LE7.34 the previous day at a central bank auction on Thursday, the…
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…
Cash reserves down 1.1 percent in May
Business
June 5, 2014
Cash reserves down 1.1 percent in May
On Thursday, Egypt's central bank announced a 1.1 percent drop in net cash reserves.
CBE grants US$40 billion tender for auction
Business
September 16, 2013
CBE grants US$40 billion tender for auction
Central Bank of Egypt (CBE) granted on Monday a tender of US$40 billion and offered it for auction to banks…
Presidential aide: Egyptian pound will not collapse
Egypt
February 18, 2013
Presidential aide: Egyptian pound will not collapse
The Egyptian pound will not collapse and its incremental depreciation has stabilized, a senior aide to President Mohamed Morsy said…