Egyptian pound

Central Bank raises rates to curb inflation, support pound
Business

Central Bank raises rates to curb inflation, support pound

The Central Bank raised interest rates on Thursday, hoping to curb soaring inflation and slow a sliding pound currency, but…
US dollar deposits grow as pound falls
Business

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…
Presidential aide: Egyptian pound will not collapse
Egypt

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…
Central Bank cancels currency auction, to announce new mechanism Monday
Business

Central Bank cancels currency auction, to announce new mechanism Monday

Egypt's central bank cancelled an auction of foreign currency on Sunday and said it would announce details of upcoming auctions…
New Central Bank governor: Pound slide is nothing to worry about
Egypt

New Central Bank governor: Pound slide is nothing to worry about

New Central Bank Hesham Ramez said that the current rise of the US dollar against the Egyptian pound is normal…
Pound hits record low
Business

Pound hits record low

The Egyptian pound hit a record low on Tuesday after weakening again at a Central Bank US dollar auction designed…
Central Bank auction temporarily stabilizes dollar-pound exchange rates
Business

Central Bank auction temporarily stabilizes dollar-pound exchange rates

Dollar exchange rates in Egyptian banks have stabilized at the amount of LE6.42 for buying and LE6.39 for selling, with…
Brotherhood may pay price for currency fall
Business

Brotherhood may pay price for currency fall

Life in Egypt is about to get harder for ordinary people who will bear the brunt of inflation caused by…
PM: Egyptian pound to improve against dollar over next period
Egypt

PM: Egyptian pound to improve against dollar over next period

The Egyptian pound will improve its standing against the US dollar after being encouraged by political and economic stability over…
Dollar selling price reaches LE6.42 in banks, exchange bureaus
Business

Dollar selling price reaches LE6.42 in banks, exchange bureaus

The dollar continued to rise against the Egyptian pound during trading on Monday in banks and exchange bureaus, despite the…
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