devaluation

Egypt’s debt up to LE 3.7 trillion: finance minister
Economy

Egypt’s debt up to LE 3.7 trillion: finance minister

Egypt’s Minister of Finance Amr El-Garhy said on Tuesday that the country’s internal and external debt totalled LE 3.7 trillion…
Egypt stock index climbs 2.0 pct at opening; financials lead
Egypt

Egypt stock index climbs 2.0 pct at opening; financials lead

Egypt's stock market surged in early trade on Sunday, led by financial companies' shares, on hopes that the economy will…
Egypt increases fuel prices after devaluation
Egypt

Egypt increases fuel prices after devaluation

Fuel prices were to rise dramatically in Egypt on Friday after the central bank floated the currency to address a…
Timeline: The Egyptian pound over the last five decades
Egypt

Timeline: The Egyptian pound over the last five decades

The Egyptian pound has embarked on a downward trend linked to the country’s economic conditions, reflecting its strength against foreign…
Egyptian central bank floats pound, devaluing to LE13 per dollar
Business

Egyptian central bank floats pound, devaluing to LE13 per dollar

Egypt's central bank floated the pound on Thursday, devaluing by 47.7 percent to an initial guidance level of 13 pounds…
Devaluation would boost Egyptian exports by 10 percent: trade minister
Business

Devaluation would boost Egyptian exports by 10 percent: trade minister

Egyptian exports would rise by 10 percent if and when authorities devalue the pound, Trade and Industry Minister Tarek Kabil…
Egypt’s finance minister expects first tranche of IMF loan in six weeks
Business

Egypt’s finance minister expects first tranche of IMF loan in six weeks

Egypt expects to receive the first $4 billion tranche of a $12 billion three-year IMF loan facility within six weeks,…
Central bank to keep pound stable at forex auction amid devaluation talk
Business

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 surges on expectations of currency devaluation
Business

Egypt surges on expectations of currency devaluation

Cairo's main stock index rose 2.9 percent on Monday on expectations of a further currency devaluation this fiscal year, while…
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…
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