Egyptian pound rises in parallel market
The Egyptian pound (EGP) has seen a significant rise in value on the local black market for U.S. dollars (USD),…
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devaluation
Uproar in Egypt over hike in mobile recharge cards
Egyptians are angry over a government decision to ratify a 36-percent devaluation of mobile phone balance recharge…
Egyptian print journalism faces potential collapse due to high print prices
Several local media outlets in Egypt have echoed their outrage over the decision to raise newspaper printing…
Egypt’s main stock index climbs 1.2% in week
Egypt’s main index, surged 1.2 percent in a week, closing at 11353 points, compared to 11221 points by the end of a…
State of uncertainty over devaluing Egyptian pound after Sisi-CBE governor meeting
A state of uncertainty over the timing of the devaluation of Egyptian pound by the Central Bank of Egypt (CBE)…
Now is not the time to float Egyptian pound: c.bank governor
Egypt's central bank governor stated on Wednesday that it was not the right time to talk about floating the…
South Africa jumps Egypt to become, once again, 2nd biggest economy in Africa
South Africa is once again the second-biggest economy on Africa as it reclaims the position from Egypt – and…
Why Africa’s next currency devaluation may be in Egypt: Bloomberg
Two weeks after Nigeria, Africa’s biggest economy, allowed the naira to weaken, Egypt’s central bank governor Tarek…
Egypt due for another devaluation in 2016/17: economists
As Egypt's foreign currency shortage intensifies and the gap between official and unofficial currency rates…
Medicines price rise does not commensurate with Egyptian pound devaluation
The increase applied to medicines does not commensurate with the devaluation of the Egyptian pound, said deputy…
Egypt central bank currently has no intention to devalue pound
As Egypt faces a dollar crisis, the Central Bank of Egypt (CBE) says it has "no intention" of devaluing the…
If Egypt wants IMF deal, it needs to get serious about economic reform
When Egypt’s central bank devalued the pound on March 14, it prompted some economists to speculate that the…
EXCLUSIVE: Who’s who Egypt bank CEOs likely to leave on 9-year term limit decree
The decision of Egypt's central bank on Thursday to set a 9-year term limit for all banks’ CEOs will force ten of…
LG sees 15% rise in product prices in Egypt
Egypt's LG CEO Don Cook expected the price of their products to increase by 15% Prices of LG products in Egypt are…
Egypt stocks resume rally, main index 0.26% up
Egypt stock market rebounded Monday despite profit-taking after soaring last week in response to a currency…
Fitch says Egypt pound devaluation ‘credit positive’, economic challenges remain
Decisions by the Central Bank of Egypt (CBE) last week, including a devaluation of the Egyptian pound, are broadly…
Egypt main index soars 14% in currency-devaluation week
Egypt’s main index EGX30 jumped 14 percent in a week, rising above its 200-day average for the first time since…
JP Morgan sees devaluation of Egyptian Pound by 35% in 2016
US-based financial services firm, JP Morgan forecasts that the Egyptian pound will be devalued by 35 percent in…
Moody’s describes Pound devaluation as credit positive for Egypt
The recent decision by the Central Bank of Egypt (CBE) to adopt a flexible exchange rate has been remarked as…
Egypt stocks end week 3.5% higher on investors’ euphoria
Egypt’s stock market closed Thursday with gains worth 7.7 billion Egyptian pounds ($874 million), marking…
BREAKING: Egypt’s central bank raises key interest rates by 150 basis points
Egypt’s central bank has decided to raise interest rates by 150 basis points during its monetary policy meeting…
What will Egypt’s flexible exchange rate look like? – Reuters
Egypt's decision to make the exchange rate more flexible will return the central bank to the managed float in use…
Egypt central bank holds pound steady at 8.85 per USD at special auction
Egypt's central bank will hold the Egyptian currency steady at 8.85 pounds per dollar at an exceptional foreign…
Economists hail Egyptian Pound devaluation, flexible exchange rate
Economists and bankers have welcomed the Central Bank of Egypt's decision to adopt a more flexible exchange rate…
Egypt main index hits highest since July 2013 after currency devaluation
Egypt’s main index, EGX30 touched its highest since July 2013 following the central bank's move to partially…
Arab, foreign currencies record jump against Egyptian pound
Arab and foreign currencies have soared against the Egyptian pound on Tuesday following a decision adopted by…
Egypt central bank partially devalues Egyptian pound to 8.85 per dollar
Egypt's central bank has partially depreciated the Egyptian pound to 8.85 per dollar from 7.73 in an exceptional…
Brace for acute devaluation of Egyptian pound, say economists
Egypt will allow a sharp devaluation of its currency in the first half of this year as it has run out of options…
EFG Hermes says devaluation is the sole option in Egypt
The devaluation of the Egyptian pound is necessary to improve liquidity and start an equity market rally, the…
Asian stocks advance on China rate cut, U.S. tech earnings
Asian stocks on Monday were close to wiping out all their losses since China's shock currency devaluation in…
BREAKING: Egypt devalues local currency fourth time in 2015
Egypt’s central bank has allowed Sunday the Egyptian pound to weaken in its latest dollar sale to 7.9301 per dollar…
China FX reserves fall record $93.9 billion in Aug as central bank supports yuan
China's foreign exchange reserves, the world's largest, shrank by $93.9 billion in August, the biggest monthly fall…
Gold industry analysts expect price boost from currency war fears
Gold prices XAU= could rise above $1,200 an ounce in the next few months as fears of a currency war following the…
China stocks extend slide amid warning of severe trade pressure
Chinese stock markets tumbled for a second straight day on Wednesday as investors crowded the exits, fearing a…
China’s devaluation may be bad news for FX industry
China's currency devaluation should give a shot in the arm to global foreign exchange volumes as traders take…
Stocks end week Lower, bruised by China Yuan Weakness
Equities on world bourses ended the week lower on Friday after China's currency devaluation on Tuesday shook…
European Shares rally, Bonds fall on China’s Yuan Assurances
European shares rallied on Thursday after China's central bank said there was no basis for further yuan…