currency floatation

As pound strengthens, Egypt adjusts customs exchange rate to 16 per dollar
Business

As pound strengthens, Egypt adjusts customs exchange rate to 16 per dollar

Egypt will change its dollar exchange rate for customs to 16 pounds from 18.5 pounds on Thursday, after the Egyptian…
US dollar at LE17.65 in Egypt banks
Egypt

US dollar at LE17.65 in Egypt banks

The US dollar exchange rate continued to decline in banks on Sunday; the lowest rate found in banks was LE17.65…
US dollar exchange rate declines slightly
Business

US dollar exchange rate declines slightly

The US dollar exchange rate declined slightly in banks on Wednesday; the lowest rate found in banks was LE18.15 to…
Egypt’s Banque Misr signs MoU with Chinese lender over US$500 mln loan
Business

Egypt’s Banque Misr signs MoU with Chinese lender over US$500 mln loan

Egypt's second-largest state-owned lender, Banque Misr, signed a memorandum of understanding with the Industrial and Commercial Bank of China (ICBC)…
Egypt received inflows of $1 billion in month since currency float: central bank
Business

Egypt received inflows of $1 billion in month since currency float: central bank

Egypt's central bank governor Tarek Amer said on Saturday the country had received inflows of around $1 billion in the…
Increase in White Taxi, Uber, Careem fares approved
Egypt

Increase in White Taxi, Uber, Careem fares approved

Cairo governor Atef Abdel Hamid approved on Monday evening the new tariff for white taxis, following an increase in fuel…
US dollar hits LE18 again
Business

US dollar hits LE18 again

The US dollar continued its rise against the Egyptian pound in the banks for the second consecutive day on Monday,…
Egypt’s pound weakens as dollar demand surges, interest rates steady
Business

Egypt’s pound weakens as dollar demand surges, interest rates steady

The Egyptian pound weakened significantly on Sunday as banks scrambled to meet a surge in demand for dollars and the…
Up to 45% increase in EgyptAir tickets next week
Egypt

Up to 45% increase in EgyptAir tickets next week

EgyptAir is set to announce within hours or on Sunday, an increase of 35 to 45 percent to the price…
Egypt currency floatation drives up budget deficit
Business

Egypt currency floatation drives up budget deficit

The decision to float the Egyptian pound caused confusion and revealed flaws in government estimates, which led, in preliminary indicators,…
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