currency devaluation
Floating the pound: currency fix or economic disaster?
Business
October 5, 2016
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
October 4, 2016
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
August 6, 2016
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
March 14, 2016
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
August 11, 2015
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
March 22, 2013
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
February 4, 2013
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
January 17, 2013
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
January 3, 2013
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
December 11, 2012
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…