foreign currency

Floating the pound: currency fix or economic disaster?
Business

Floating the pound: currency fix or economic disaster?

The Egyptian pound has continued to lose value against the US dollar in the last few months, with black market…
Egypt sets jail as punishment for black market forex trading
Business

Egypt sets jail as punishment for black market forex trading

Egypt's parliament on Tuesday set prison sentences of between three and 10 years in jail and fines of up to…
Egypt’s central bank keeps pound stable at 8.78 per dollar
Business

Egypt’s central bank keeps pound stable at 8.78 per dollar

The Central Bank of Egypt (CBE) kept the pound stable at 8.78 per dollar at its weekly foreign currency auction…
Bank of Israel buying ‘hundreds of millions’ of dollars: sources
Business

Bank of Israel buying ‘hundreds of millions’ of dollars: sources

The Bank of Israel bought "hundreds of millions" of dollars of foreign currency on Monday, dealers said, after the shekel…
No change to debit card usage rules abroad: CBE governor
Business

No change to debit card usage rules abroad: CBE governor

Tarek Amer, governor of the Central Bank of Egypt (CBE), said on Thursday that there was no change to the…
Banque Misr: dollar black market rate down to LE9
Business

Banque Misr: dollar black market rate down to LE9

The rate quoted for the US dollar among black market dealers has dropped to nearly LE9, down from a recently…
Obama advisor submits proposals for Egypt’s currency crisis
Business

Obama advisor submits proposals for Egypt’s currency crisis

Egypt’s central bank official Mohamed al-Erian has submitted a paper of proposals to “high-level” state bodies to resolve the current…
Egypt foreign reserves US$16.53 billion at end-Feb: c.bank
Business

Egypt foreign reserves US$16.53 billion at end-Feb: c.bank

Egypt's net foreign reserves reached US$16.53 billion at the end of February, slightly higher than in the previous month, the…
Egyptian pound steady at forex sale, black market under pressure
Business

Egyptian pound steady at forex sale, black market under pressure

The Egyptian pound was steady against the dollar at an official forex auction on Thursday and black market traders quoted…
Egypt’s central bank not moving toward weakening the pound: official
Business

Egypt’s central bank not moving toward weakening the pound: official

Egypt's central bank is not moving toward devaluing the pound or floating its currency, a central bank official said in…
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