currency depreciation

Contractors report 70% rise in materials prices as dollar soars
Business

Contractors report 70% rise in materials prices as dollar soars

Egyptian building contractors have reported a 70 percent surge in the prices of building materials and related commodities, attributed to…
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…
FJP slams central bank for dollar rise
Egypt

FJP slams central bank for dollar rise

The Freedom and Justice Party’s economic committee head Abdallah Shehata is blaming the Central Bank for the dollar's rise against…
IMF: Arab Spring economies to recover slowly in 2013
Business

IMF: Arab Spring economies to recover slowly in 2013

Most economies hit by the Arab Spring uprisings will recover only slowly next year as they grapple with high inflation…
IMF recommends govt let pound float, officials deny devaluation talk
Business

IMF recommends govt let pound float, officials deny devaluation talk

An October report from IMF’s Tokyo meeting, which Egyptian officials attended, recommends that the government allow the country’s currency to…
Iran imposes currency cap to combat rial’s plunge
World

Iran imposes currency cap to combat rial’s plunge

TEHRAN — Iran on Saturday sought to reverse a collapse of its currency by imposing a fixed dollar rate, days…
Looming devaluation of Egyptian pound may have lasting effects
Business

Looming devaluation of Egyptian pound may have lasting effects

With a loan deal between Egypt and the International Monetary Fund still uncertain and foreign investors still wary of returning,…
IMF sending mission to Egypt for aid negotiations
Business

IMF sending mission to Egypt for aid negotiations

The International Monetary Fund confirmed Thursday it was sending a mission to Egypt to discuss possible financial aid to the…
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