US dollars
Bloomberg: Egypt’s economy is recovering, EGP climbs faster than expected
Egypt
March 6, 2017
Bloomberg: Egypt’s economy is recovering, EGP climbs faster than expected
The value of the Egyptian pound rose faster than expected, though optimism prevails among Egyptian businessmen societies recently, thanks to…
Stocks, oil, gold start 2017 on firm footing, US dollar resumes climb
Business
January 3, 2017
Stocks, oil, gold start 2017 on firm footing, US dollar resumes climb
Global markets marched confidently into 2017 on Tuesday, with Asian stocks extending gains after European shares surged to their highest…
New proposal to seek dollar deposits from Egyptian expats
Egypt
September 26, 2016
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…
Dollar price drops on black market as talks on $12bn IMF loan announced
Business
July 28, 2016
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…
Central bank to keep pound stable at forex auction amid devaluation talk
Business
July 12, 2016
Central bank to keep pound stable at forex auction amid devaluation talk
Egypt's central bank will keep the Egyptian pound stable at 8.78 to the dollar at its weekly foreign exchange auction…
Egypt’s illicit currency traders defy crackdown, spread business abroad
Business
June 15, 2016
Egypt’s illicit currency traders defy crackdown, spread business abroad
Egypt's efforts to stamp out illicit currency trading is pushing black market dealers to carry out transactions abroad, beyond the…
What devaluation? Egyptian currency traders shrug off black market crackdown
Business
April 22, 2016
What devaluation? Egyptian currency traders shrug off black market crackdown
Egypt's war on black market currency traders is not going to plan. One month after a devaluation that was supposed…
Sawiris eyes EU50 bn bank in Luxembourg
Business
March 8, 2016
Sawiris eyes EU50 bn bank in Luxembourg
Egyptian businessman Naguib Sawiris plans to invest 50 million euros (US$55 million) to set up a bank in Luxembourg specializing…
Analysts expect further ‘dollarization’ after sharp declines in Egyptian currency
Business
February 19, 2016
Analysts expect further ‘dollarization’ after sharp declines in Egyptian currency
Analysts and bankers expect an increase in Egyptians' demands to convert Egyptian pounds to US dollars, a phenomenon known as…
December interest rate hike a ‘live possibility’: Fed
Business
November 5, 2015
December interest rate hike a ‘live possibility’: Fed
Federal Reserve governor Janet Yellen told Congress Wednesday that a December rate hike was a "possibility". The Turkish lira reacted on…