currency

Egyptian expats remittances record highest level in history: CBE
Business

Egyptian expats remittances record highest level in history: CBE

From November 2016 to November 2017, the total sum of remittances sent to Egypt from expats working abroad reached $24.2 billion,…
Bitcoin hits new record high as warnings grow
World

Bitcoin hits new record high as warnings grow

Bitcoin blasted to another all-time high of just over $17,750 on Friday, up 8 percent on the day, as concerns…
Egypt Central Bank, no intention to pass digital currency trading legislation
Economy

Egypt Central Bank, no intention to pass digital currency trading legislation

Egypt’s central bank said it has no intention of issuing legislation or passing a special law that allows the trading…
US dollar exchange rate surpasses LE18
Economy

US dollar exchange rate surpasses LE18

The US Dollar exchange rate against the Egyptian Pound slightly rose on Sunday within the banking sector to settle above LE18.…
CBE’s interest rate hike last of reform procedures, source
Egypt

CBE’s interest rate hike last of reform procedures, source

A high-level government source said Friday that the decision of the Monetary Policy Committee of the Central Bank of Egypt…
Egypt’s central bank did not order to halt Qatari riyal transactions: statement
Economy

Egypt’s central bank did not order to halt Qatari riyal transactions: statement

Egypt’s central bank said it has not ordered banks to halt transactions in Qatari riyals, after six Arab nations, including…
Cabinet’s IDSC denies govt intentions to change shape of currency
Business

Cabinet’s IDSC denies govt intentions to change shape of currency

The Cabinet’s Information and Decision Support Center (IDSC) denied news reports that the government intends to change the shape of…
Egypt’s dollar black market resilient despite new threat of jail terms
Business

Egypt’s dollar black market resilient despite new threat of jail terms

Desperate to elude roving financial police and fearful of new jail terms for black-market money-changing, Egypt's currency traders are driving…
What will Egypt’s flexible exchange rate look like?
Business

What will Egypt’s flexible exchange rate look like?

Egypt's decision to make the exchange rate more flexible will return the central bank to the managed float in use…
GM suspends Egypt operations due to currency crisis: company source
Business

GM suspends Egypt operations due to currency crisis: company source

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent…
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