Egyptian Pound

US dollar exchange rate against the Egyptian pound on Friday

The exchange rate of the US dollar against the Egyptian pound stabilized on Friday after the last decline recorded on Thursday, as weekly trading closed on a downward trend. Here are the dollar exchange rates at some of the major Egyptian banks on Friday. Suez Canal Bank: Buying for 47.95 Egyptian Pounds (EGP) and Selling …

The post US dollar exchange rate against the Egyptian pound on Friday appeared first on Egypt Independent.

Egypt Independent July 5, 2024

Egypt pound devaluation ‘just a band-aid’ as inflation spiral looms

Egypt pound devaluation ‘just a band-aid’ as inflation spiral looms Cash-strapped Egyptians describe ‘humiliation’ of economic crisis, while analysts say

Middle East Eye February 4, 2024

Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation

Capital Economics, an independent economic research business based in the UK, noted that Egypt’s agreement with the International Monetary Fund (IMF) for the next loan is on the way – and with it, a devaluation of the Egyptian pound. Inflation in Egypt is slowing down, according to the report but will remain above the central …

The post Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation appeared first on Egypt Independent.

Egypt Independent January 12, 2024

MP calls on govt to clarify plans about floating the Egyptian pound

Member of the Egyptian Parliament, Amira Abu Shaqqa, called on the Ministry of Industry and Trade to draw up a comprehensive plan that explains what it will do with the upcoming floatation of the Egyptian pound. According to her, a large number of experts further expect the US dollar to reach record levels ranging between …

The post MP calls on govt to clarify plans about floating the Egyptian pound appeared first on Egypt Independent.

Egypt Independent December 9, 2022

Investing in Egyptian pound to be more profitable in medium term: CBE governor

The Central Bank of Egypt governor Tarek Amer pledged that investing in the Egyptian pound will be more profitable than other currencies in the medium term. During the Arab Banking Conference 2022, Amer added in his Wednesday speech that the Central Bank approved the requests of the National Bank of Egypt and Banque Misr to …

The post Investing in Egyptian pound to be more profitable in medium term: CBE governor appeared first on Egypt Independent.

Egypt Independent May 19, 2022