foreign currency reserves
Egypt bourse suffers worst decline since November, losing LE13.1 billion
Egypt
June 12, 2013
Egypt bourse suffers worst decline since November, losing LE13.1 billion
The Cairo index lost 5.2 percent to 4,598 points, its largest one-day decline since November 2012. It broke below major…
Foreign currency reserves rise to US$16 billion in May
Business
June 6, 2013
Foreign currency reserves rise to US$16 billion in May
Net foreign currency reserves climbed to US$16.039 billion at the end of May, up from US$14.4 billion at the end…
Egypt gets US$2 bn loan from Libya
Business
April 10, 2013
Egypt gets US$2 bn loan from Libya
Egypt and Libya finalized a US$2 billion loan agreement Wednesday evening to shore up the Egyptian economy and foreign reserves,…
Poll: Egypt’s pound set to sag further against the dollar
Business
April 3, 2013
Poll: Egypt’s pound set to sag further against the dollar
Egypt's pound will depreciate steadily against the dollar over the next 12 months, undermined by political and economic problems for…
Egypt bourse slumps to new 2013 low on currency woes
Business
April 3, 2013
Egypt bourse slumps to new 2013 low on currency woes
Cairo's bourse fell to a new 2013 low on Wednesday as foreign investors sold stocks on fears that Egypt's currency…
Egypt increases customs on foodstuff, accessories
Egypt
March 25, 2013
Egypt increases customs on foodstuff, accessories
In the midst of both political and economic crisis, Egypt authorities are planning to increase custom fees on luxury foodstuff…
Dollars start running out for Egypt’s currency bureaus
Business
February 17, 2013
Dollars start running out for Egypt’s currency bureaus
Egypt's currency bureaus are being overwhelmed by demand for dollars amid a supply fueled by political crisis, the head of…
Govt has ‘plan b’ if IMF negotiations fail
Business
February 14, 2013
Govt has ‘plan b’ if IMF negotiations fail
The Cabinet plans to invite the International Monetary Fund delegation to Cairo next month to resume negotiations over a…
Central bank sells $49.6 mn at forex auction
Business
February 6, 2013
Central bank sells $49.6 mn at forex auction
Egypt's central bank said on Wednesday it had accepted bids worth $49.6 million with a cut-off price of LE6.702 to…
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…