The central banks of Turkey and the United Arab Emirates (UAE) have inked a swap agreement with a nominal size of 18 billion UAE dirhams and TL 64 billion ($4.7 billion), the Central Bank of [ More … ]
Turkey officials have held talks with Japan and the UK on setting up currency swap lines, sources tell Reuters. The recently embattled Turkish lira edged up on Friday and held gains from late Thursday following reports that [ More … ]
Egypt’s currency crisis is escalating as its national currency continues to decline against the dollar in the parallel market, amid growing signs of a currency devaluation, with the government talking about painful necessary economic reforms, [ More … ]
Two government sources said that Egypt has reached a preliminary agreement with the International Monetary Fund after nearly two weeks of talks to secure a $12 billion (9.25 billion pounds) lending programme and will make [ More … ]
After a debatable meeting, the Central Bank of Egypt (CBE) decided to raise its benchmark interest rate to the highest level in at least a decade. The CBE decision aims to contain inflation and rise [ More … ]
The efforts of the Central Bank of Egypt (CBE) to abolish illegal currency trading are pushing black market dealers towards carrying out external transactions, to remain away from the reach of the law. The black [ More … ]
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