currency devaluation

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 to boost subsidies on household goods to balance currency devaluation
Egypt

Egypt to boost subsidies on household goods to balance currency devaluation

The Egyptian government is planning to increase subsidies on household goods to prevent soaring prices resulting from an imminent currency…
Egypt’s solar power upset clouds outlook for foreign investors
Business

Egypt’s solar power upset clouds outlook for foreign investors

When Egypt announced plans to develop renewable power in 2014, investors piled in, drawn by year-round sunshine and chronic electricity…
Egypt announces more flexible exchange rate policy as it devalues pound
Business

Egypt announces more flexible exchange rate policy as it devalues pound

Egypt's central bank devalued the pound on Monday and said it would move to a more flexible exchange rate policy…
China devaluation hits stocks, dollar gains on currency war fears
World

China devaluation hits stocks, dollar gains on currency war fears

China's 2 percent devaluation of the yuan on Tuesday pushed the US dollar higher and hit Wall Street and other…
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…
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…
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…
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…
Imminent decree to give Morsy more power over Central Bank
Business

Imminent decree to give Morsy more power over Central Bank

President Mohamed Morsy will issue a decree within days that would give him more power over Egypt’s Central Bank, according…
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