currency
Egyptian pound steady on official, stronger on black market
Business
March 29, 2015
Egyptian pound steady on official, stronger on black market
Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Sunday,…
Two US citizens arrested in Cairo airport over trying to smuggle LE750,000
Egypt
February 25, 2015
Two US citizens arrested in Cairo airport over trying to smuggle LE750,000
Security services at Cairo International Airport have arrested two US nationals who attempted to smuggle foreign currency estimated at LE750,000. The…
Former mufti Gomaa replaces Gendy as securities firm adviser
Business
February 16, 2015
Former mufti Gomaa replaces Gendy as securities firm adviser
Egypt’s former Grand Mufti Ali Gomaa has replaced Islamic preacher Khaled al-Gendy as an adviser for AT. Brokerage firm, the…
Egypt might set LE20.000 ceiling for non-bank cash exchange
Business
February 4, 2015
Egypt might set LE20.000 ceiling for non-bank cash exchange
The government is considering a ceiling of LE20.000 for cash exchanges outside banks, purportedly to reduce economic and security risks,…
Egyptian businessmen: Falling ruble impacts tourism, imports
Business
January 27, 2015
Egyptian businessmen: Falling ruble impacts tourism, imports
Egypt’s businessmen union held a meeting Monday which discussed the consequences of the falling exchange rates of Russian, Ukrainian and…
ISIS announces its own currency
Egypt
November 15, 2014
ISIS announces its own currency
Islamic State plans to reinstate the ancient Islamic dinar by minting its own gold, silver and copper coins, according to…
Currency black market shows limits of Egypt’s recovery
Business
February 4, 2014
Currency black market shows limits of Egypt’s recovery
Egypt's central bank has taken extraordinary steps to prop up its currency and curb a black market in foreign exchange…
US dollar deposits grow as pound falls
Business
March 19, 2013
US dollar deposits grow as pound falls
Egyptians are continuing to convert Egyptian pound bank deposits into US dollars, fearing further depreciation for the embattled currency. A…