Latest in Highlight
37,000 feddans were recovered by the State Land Recovery Committee
Christie’s auction house in London auctioned the rare original score at a final price of $3.3 million. That would be comparable to the price of a precious work of art – which some say this is.
In an online campaign called Mazad Elkheir (the goodwill auction), Yacoub vowed to donate the revenues from his tie for the Magdi Yacoub Heart Foundation, which provides medical care for children with cardiac health problems
The CBE sold US dollars at a fixed price of EGP 9.78. Banks have been directed to sell the US currency to their customers at a price of EGP 8.88
Gap widening between official, unofficial dollar selling despite increasing CBE dollar auctions
CBE’s Monday dollar auction ended with $1 standing at EGP 7.43
Reuters – The Egyptian pound strengthened at a central bank dollar auction on Monday after hitting a six-month low last week. The central bank sold dollars at a cut-off price of EGP 6.9649, slightly stronger than the EGP 6.9651 at its last auction on Thursday. But the dollar sold on the black market for EGP …
In a push to restore confidence in the economy, authorities opened a repatriation scheme in March 2013 guaranteeing foreign investors in Egyptian stock and government bond markets access to dollars despite the severe shortages of the US currency.
Reuters – The Egyptian government accepted bids for $1.07bn worth of one-year dollar-denominated treasury bills at an auction on Sunday with an average yield of 2.593%, the Central Bank of Egypt said. The total bids amounted to $1.380bn. The Ministry of Finance had set the issue size at $1bn. The minimum yield was 2.54% and …
On the black market the pound was trading on Monday at 7.33/7.36, weaker than Tuesday’s rate of 7.31/33 to the dollar, two traders said.
The central bank said it sold $38.8 million to banks at its auction, at a cut-off price of 6.8774 pounds to the dollar
Reuters – Yields on Egyptian treasury bills rose at an auction on Thursday and the central bank sold all the debt it had offered. The average yield on 182-day treasury bills increased to 11.174 percent at Thursday’s auction from 11.133 percent last week, the central bank said. The yield on 357-day T-bills edged up to …
Ministry of Antiquities cooperates with all concerned parties to return stolen artefacts
Auctioneers Osenat said they had decided not to proceed with the sale in light of strong opposition in Egypt
International auction to sell 15 marina boats will be held in coming months
Exchange market stabilises as demand for dollar retreats