Egyptian pound decline
Central Bank: Foreign reserves at 16-year low
Business
February 5, 2013
Central Bank: Foreign reserves at 16-year low
The Central Bank announced on its website Tuesday that foreign reserves had fallen to US$13.613 billion in January, compared to…
Central Bank cancels currency auction, to announce new mechanism Monday
Business
February 4, 2013
Central Bank cancels currency auction, to announce new mechanism Monday
Egypt's central bank cancelled an auction of foreign currency on Sunday and said it would announce details of upcoming auctions…
New Central Bank governor: Pound slide is nothing to worry about
Egypt
January 12, 2013
New Central Bank governor: Pound slide is nothing to worry about
New Central Bank Hesham Ramez said that the current rise of the US dollar against the Egyptian pound is normal…
Pound hits record low
Business
January 8, 2013
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
January 2, 2013
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…
Egypt takes provisions ahead of expected food price hikes
Business
January 1, 2013
Egypt takes provisions ahead of expected food price hikes
An official at the Investment Ministry said that state budget allocations for food and commodities will be increased in order…
PM: Egyptian pound to improve against dollar over next period
Egypt
January 1, 2013
PM: Egyptian pound to improve against dollar over next period
The Egyptian pound will improve its standing against the US dollar after being encouraged by political and economic stability over…
Morsy sees currency stabilizing ‘within days’
World
December 31, 2012
Morsy sees currency stabilizing ‘within days’
Egypt's pound fell to a record low on Monday as the president signaled his government would allow it to depreciate…
Dollar selling price reaches LE6.42 in banks, exchange bureaus
Business
December 31, 2012
Dollar selling price reaches LE6.42 in banks, exchange bureaus
The dollar continued to rise against the Egyptian pound during trading on Monday in banks and exchange bureaus, despite the…
Egypt pound hits record low under new currency regime
World
December 30, 2012
Egypt pound hits record low under new currency regime
The Egyptian pound hit a record low on Sunday of about 6.30 to the dollar after the central bank introduced…