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Global crises, like the coronavirus outbreak, examine the strength of Egyptian monetary policy , Mohamed Abdel Aal
US currency lost 13 piasters of its value in October, totalling 178 piasters decline since beginning of 2019
CBE likely to cut policy rates further in 4Q19
Despite improving macro conditions and consumer spending behaviour, Pharos expects muted growth in Juhayna, Domty and Obour Land companies’ core product offerings caused by existing market maturity in their respective segments.
The OBG explained that it expects an increase in the EGP value by 3.5%, to reach EGP 16 per $1 by the beginning of 2020.
Budget deficit will narrow to 6.9% of GDP in FY2019/20, government debt remains high
The US dollar lost two piasters in the Egyptian National Bank and the Suez Canal Bank, recording EGP 16.71 for buying and EGP 16.81 for sale
Risks increase with recent tightening of global financial conditions
Establishing mechanism of liberalisation oil price in Egypt, linking it with global costs
The bank said in a statement on Thursday that it has printed EGP 100m of EGP 1 banknotes and EGP 100m of EGP 0.5 banknotes
The US dollar exchange rate rose at the Central Bank of Egypt (CBE) on Tuesday—the sixth day following the Egyptian pound’s flotation—to EGP 17.417 for buying and EGP 17.8427 for selling. The new rates are up from the Monday amounts of EGP 16.3895 for buying and EGP 17.2308 for selling, with an increase of EGP …
Forward exchange rate is expected to register 11.20 in Q4 2016, says Bank of America
The Central Bank of Egypt faces difficulty on inflation hike of more than 2% in May
CPI inflation is expected to decrease to 10% in FY 2015/2016 instead of 11% in 2014/2015, says the report
The EGX issued this new rule to allow companies to avoid the poor trading on the dollar due to the erosion of foreign currency reserves
Moody’s forecast of Egypt’s economic growth is lower than the government’s predictions
The CBE interest rates are the main index for interest rates on the Egyptian pound in the local market.
Editing by Omar Korashi
Egypt could reach an IMF agreement if required by authorities, Fitch says
Food prices will not increase following dollar rise, Hanafy says
Flexible exchange rate can offset some major challenges, Moody’s says
US dollar is forecasted to break EGP 10 threshold
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
CBE provided $1bn from a total of $4bn to meet the requests for foreign currency in import contracts
Parallel market confusion amid the decline of the dollar in anticipation of new CBE governor’s decisions
According to analysts, MPC is highly expected to keep the major interest rates at CBE unchanged for the sixth consecutive time during its meeting decided set for Thursday.
Foreign investors are sure that the Egyptian pound will be devalued further
Dollar will increase again, and the stable price is temporary, analysts say