Central Bank of Egypt

Central bank sells $49.6 mn at forex auction
Business

Central bank sells $49.6 mn at forex auction

Egypt's central bank said on Wednesday it had accepted bids worth $49.6 million with a cut-off price of LE6.702 to…
Stock market loses LE3.6 billion Wednesday
Business

Stock market loses LE3.6 billion Wednesday

Egyptian stock prices fell Wednesday as investor fears ratcheted up over Egypt's gloomy economic prospects. Shares had dropped nearly LE3.6…
Authorities looking for revenue boost, says planning minister
Business

Authorities looking for revenue boost, says planning minister

Minister of Planning and International Cooperation Ashraf al-Araby confirmed Tuesday that Egypt’s foreign cash reserves are enough to cover three…
Central Bank takes new measures to prevent pound slide
Business

Central Bank takes new measures to prevent pound slide

  The dollar dropped against the pound by about eight piasters on Monday after the Central Bank of Egypt (CBE) adopted a…
As new Central Bank governor, Ramez has big shoes to fill
Business

As new Central Bank governor, Ramez has big shoes to fill

President Mohamed Morsy’s decision to appoint Hesham Ramez as the new Central Bank of Egypt chief in January was unsurprising…
Pound dips as weekend violence prompts caution
Business

Pound dips as weekend violence prompts caution

The pound weakened against the dollar Sunday, as street violence and deaths added to the political crisis, extending a steady…
Central bank offers $75 mn at currency auction
Business

Central bank offers $75 mn at currency auction

The Central Bank of Egypt offered $75 million to banks on Thursday at its 11th foreign currency auction, the same…
Central Bank: US$5 bn in foreign investments left Egypt in six months
Business

Central Bank: US$5 bn in foreign investments left Egypt in six months

A total of US$5 billion in foreign investments left Egypt during the last six months, the Central Bank of Egypt…
Morsy appoints new Central Bank governor
Egypt

Morsy appoints new Central Bank governor

Hesham Ramez, the CEO of the Commercial International Bank, has been appointed as the new governor of the Central Bank…
IMF wants pound value to drop against US dollar, says official
Business

IMF wants pound value to drop against US dollar, says official

The International Monetary Fund has criticized the Central Bank of Egypt for its delay in allowing the Egyptian pound’s value…
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