Al-Marsad newspaper: British bank HSBC expects the Egyptian pound to decline by 25% against the US dollar. HSBC Bank believed that the price of the Egyptian pound would approach its price in the parallel market that prevailed for most of the last quarter of this year, i.e. approximately 38 to 39 pounds per dollar. It … Read more
Cairo, Egypt (CNN) – The Central Bank of Egypt decided, on Thursday, to maintain the deposit and lending return rates at the level of 19.25% and 20.25%, respectively, attributing the reason for this to “the consistency of the inflation data with the bank’s expectations,” while bankers believe that Increasing interest rates “is no longer the … Read more
Dubai, United Arab Emirates (CNN) – Economists ruled out that the Egyptian government would take a decision to move the exchange rate of the pound against the dollar, after the package of social protection decisions taken by President Abdel Fattah El-Sisi, yesterday, Saturday, stressing that the government is working to increase its dollar revenues to … Read more
Cairo, Egypt (CNN) — The relative improvement of the Egyptian economy’s indicators was reflected in the stock market’s performance, which recorded the highest level in its history during the Sunday and Monday sessions of this week, and foreign investments resumed pumping investments again with limited values after a continuous sale that lasted 18 months. Capital … Read more
Dubai, United Arab Emirates (CNN) – The price of the dollar has rebounded against the Egyptian pound in the parallel market, ranging from 38.5 to 40 pounds, according to dealers, after a stability of about two months. Experts attributed the reasons for the rise of the dollar again on the black market to renewed talk … Read more
Title: Weak Demand for Dollar in Egypt Causes Heavy Losses for Speculators in Black Market Date: June 22, 2023 In a surprising turn of events, the weak demand for the dollar in Egypt has resulted in significant losses for speculators operating in the black market. According to Al-Marsad Newspaper, the decline or collapse of the … Read more
Title: Egyptian Government Partners with International Finance Corporation to Sell Assets Worth $40 Billion Cairo, Egypt (CNN) – In a significant move to boost the private sector and accelerate economic growth, the Egyptian government has entered into a contract with the International Finance Corporation (IFC), the arm of the World Bank Group, to provide technical … Read more
Books – Ahmed Yaqoub Wednesday, June 14, 2023 09:45 PM Informed banking sources told Al-Youm Al-Sabea that President Abdel-Fattah El-Sisi’s statements, today, Wednesday, that the government intervened in the exchange rate to stabilize the price of the dollar, confirms the president’s bias towards the Egyptian citizen to work to alleviate the burdens of the current … Read more
Al-Marsad Newspaper: Economists revealed new expectations that carry unpleasant surprises about the path of the Egyptian pound against the US dollar. The Swiss bank “Credit Suisse”, in a recent research note, expects the pound’s exchange rate to drop to between 45 and 50 pounds by the end of August, due to the slow pace of … Read more
Al-Marsad newspaper: Some dealers are following the movements of the dollar in the black market for exchange in Egypt, with a state of concern, amid news that there are no new reductions in the pound in the official market during the current period. The price of the dollar on the black market is estimated to … Read more