foreign currency crisis

Finance Minister: Egypt more stable, foreign currency crisis over
Business

Finance Minister: Egypt more stable, foreign currency crisis over

Finance Minister Amr al-Garhy said that the preliminary results of the economic reform program implementation in Egypt are very promising,…
CBE not to impose restrictions on foreign currency exchange
Business

CBE not to impose restrictions on foreign currency exchange

The Central Bank of Egypt (CBE) said on Thursday it would not impose restrictions on the exchange of foreign currencies. "There…
Dollar price climbs on black market after rumors of partial floatation of pound
Business

Dollar price climbs on black market after rumors of partial floatation of pound

The black-market exchange rate for US dollars increased once again Friday as rumors circulated that the Central Bank of Egypt…
US dollar hits LE13.10 on black market after Sisi’s speech
Business

US dollar hits LE13.10 on black market after Sisi’s speech

Foreign exchange traders working on Egypt's black market said the price of the US dollar jumped to more than LE13…
New proposal to seek dollar deposits from Egyptian expats
Egypt

New proposal to seek dollar deposits from Egyptian expats

Egyptian MPs are due to consider a new proposal for injecting dollars into the economy, by which Egyptian citizens living…
KLM has not informed Civil Aviation Ministry of flight suspension plan: official
Business

KLM has not informed Civil Aviation Ministry of flight suspension plan: official

KLM Royal Dutch Airlines has not yet officially communicated its decision to temporarily suspend flights to Cairo starting next January,…
Egypt suspends 10 foreign exchange bureaus over black market trading
Egypt

Egypt suspends 10 foreign exchange bureaus over black market trading

Egypt's central bank on Monday suspended for one year the licenses of 10 foreign exchange bureaus in Cairo after finding…
Dollar price drops on black market as talks on $12bn IMF loan announced
Business

Dollar price drops on black market as talks on $12bn IMF loan announced

The price of the US dollar has fallen against the Egyptian pound on the black market after the official announcement…
As FX shortage bites, Egypt’s CIB limits use of bank cards abroad
Egypt

As FX shortage bites, Egypt’s CIB limits use of bank cards abroad

Egypt's largest listed bank, Commercial International Bank (CIB), told customers on Wednesday it was reducing the amount of foreign currency…
Egypt surges on expectations of currency devaluation
Business

Egypt surges on expectations of currency devaluation

Cairo's main stock index rose 2.9 percent on Monday on expectations of a further currency devaluation this fiscal year, while…
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