currency flotation

Egypt’s annual inflation rate down to 6.8 percent: CAPMAS
Economy

Egypt’s annual inflation rate down to 6.8 percent: CAPMAS

Egypt’s annual inflation rate fell to 6.8 percent in January 2020, compared to 12.2 percent in January 2019, according to…
Remittances increase 5.5% in 12 months: CBE
Economy

Remittances increase 5.5% in 12 months: CBE

The Central Bank of Egypt (CBE) stated on Monday that the remittances of Egyptian workers abroad in the months July…
Net foreign reserves up to US$44.11 billion: CBE
Egypt

Net foreign reserves up to US$44.11 billion: CBE

The Central Bank of Egypt stated on Wednesday that net foreign reserves recorded US$52 million in March, increasing to net…
Central Bank of Egypt reduces deposit, lending rates by 1 percent
Economy

Central Bank of Egypt reduces deposit, lending rates by 1 percent

The Central Bank of Egypt (CBE) on Thursday unexpectedly reduced the deposit rate, overnight lending rate, and the rate of main…
Egypt govt to raise dollar price in new budget: Reuters
Economy

Egypt govt to raise dollar price in new budget: Reuters

Three government sources anonymously told Reuters on Tuesday that the Egyptian government will increase the US dollar exchange rate in…
US dollar exchange rate approaching LE 18
Business

US dollar exchange rate approaching LE 18

The US dollar exchange rate hiked during Monday morning trading, approaching LE 18, with more than one bank selling it…
Egypt’s govt hikes gasoline, diesel prices, 2nd increase since currency flotation
Economy

Egypt’s govt hikes gasoline, diesel prices, 2nd increase since currency flotation

Egypt’s government on Thursday increased gasoline and diesel prices, in the second fuel hike since the currency was floated in…
Cost of electricity production doubled after currency flotation: sources
Egypt

Cost of electricity production doubled after currency flotation: sources

Officials in the Electricity Ministry said the average cost of electricity production doubled, from 46 piasters to more than 90…
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