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HomeExchange rate

Exchange rate

Egypt Latest News

Turkish lira restores over 22% of its value after Erdogan’s statements

December 20, 2021 MEO Staff

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 … ]

Sudan

US dollar price drops slightly against the Sudanese pound

May 2, 2017 MEO Staff

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 … ]

Turkey Latest News

Turkish lira hits 6-week high against US dollar

February 23, 2017 Ahmed Rashed

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 … ]

Turkey Latest News

Turkey can handle lira volatility, economists say

January 13, 2017 Ahmed Rashed

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 … ]

Column

A Shaky Future for the Exchange Rate in Egypt

October 19, 2016 MEO Staff

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 … ]

No Picture
Egypt Latest News

Egypt Plans to Cut off Fuel Subsidies within 3 Years

August 23, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

Egypt’s Tough Currency Policies Would Be Harmful

August 13, 2016 Ahmed Rashed

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 Latest News

Egypt’s External Debt Would Reach $53.4 Billion With IMF Loan

August 1, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

Egypt: The Dollar approaching LE 13 in the Black Market

July 25, 2016 Ahmed Rashed

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 … ]

Column

Raising the Interest Rate and Egypt’s Floundering Economic Policy

July 3, 2016 MEO Staff

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 … ]

Egypt Latest News

The CBE Raises the Interest Rate to its Highest Level in a Decade

June 17, 2016 Ahmed Rashed

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 … ]

Egypt Latest News

Inflation Rate in Egypt Reaches its Highest Levels in Seven Years

June 15, 2016 Ahmed Rashed

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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Egypt Latest News
January 23, 2023
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