The U.S. dollar and euro took an over 22% nosedive late Monday after the statements of Turkish President Recep Tayyip Erdogan in which he detailed Turkey’s steps to battle high inflation and fluctuating currency rates. [ More … ]
The US dollar price has slightly declined on the black market following an announcement by the Central Bank of Sudan (CBoS) that it would infuse additional amounts of foreign currencies into the commercial banks. Dollar [ More … ]
Exchange rate of Turkish lira dipped to as low as 3.5756 points, lowest figure since Jan 4. The Turkish lira appreciated against the U.S. dollar early on Thursday amid hints from the Federal Reserve pointing [ More … ]
USD/lira exchange rate down to 3.81 amid central bank move to cancel 1-week repo auction, after hitting 3.94 on Wednesday Turkey can handle the recent volatility in its local currency, marked by record lows against [ More … ]
BY: Abdel-Hafez Al-Sawi* The past days have remarkably witnessed an accelerating decline in the value of the Egyptian pound, to the extent that the decline in the pound’s value against the dollar occurred more than [ More … ]
Ahead of the IMF loan agreement, Egypt is planning to cut off fuel subsidies within three years and is aiming to increase fuel prices to 65 % of their actual cost during the 2016/17 fiscal [ More … ]
Experts believe that the recent suggestions issued in the Egyptian parliamant to draft a law to permanently close money exchange bureaus to resolve distortions in the exchange rate system might be harmful to the already [ More … ]
Egypt’s external debt would reach $53.4 billion if it received an international Monterey Fund (IMF) loan said Egypt’s finance minister said in a television interview, according to Reuters. Egypt announced last week that it was [ More … ]
The Dollar has witnessed an unprecedented increase in Egypt’s black market recently. According to local reports, the dollar selling price ranged between 12.50 and 12.60 Egyptian pounds while its purchase price was around 12.30 pounds. In [ More … ]
By: Abdel-Hafez El-Sawy* In mid-June 2016, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) made a decision for increasing the interest rates on deposits and loans by 1%. Accordingly, the interest [ 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 Central Bank of Egypt (CBE) has reported that the inflation rate reached its highest level in seven years in May. Inflation is considered another challenge for policy makers trying to solve the shortage of [ More … ]
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