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The market awaits the launch of the first post-Eid dollar tender to learn the CBE’s direction
5 January 1899 saw the issuance of the first Egyptian paper banknote, while the first EGP 200 bill was issued by the Central Bank of Egypt (CBE) on 3 April 2007. The CBE owns a museum devoted to the history of the Egyptian currency, and on its website the CBE has a page documenting the …
The annual growth of banknote issuance is usually proportionate to annual GDP growth
EGX closed at 7,182.8 points on Monday, with a 2.88% increase.
The CBE has increased its issuance of banknotes since January 2011, due to annual increases of salaries, pensions, and compensations, in addition to the repayment of domestic debt’s benefits, says Hassanein
EGP 200 banknotes accounted for 52.1% of the total banknotes issued; EGP 100 banknotes registered 35.7%; EGP 50 banknotes were 8.73%, with lower rates for other denominations
The global drop in oil prices has led to a decline in Egypt’s export proceeds by $3.7bn during the first nine months of fiscal year (FY) 2015/2016, according to the Central Bank of Egypt (CBE). In its balance of payments (BOP) report issued on Sunday, the CBE revealed that commodity exports have reached $13.4bn from …
The CBE said in a statement on Sunday that the net inflows to establish companies or increase capital of existing companies rose to $3.7bn from July 2015 to March 2016, compared to $2.8bn from July 2014 to March 2015.
The value of gold included in the reserves increased to $2.602bn in June, compared to $2.513bn in May, an increase of $89m.
The CBE said in a statement on its website on Sunday that the increase of the BOP deficit is ascribed to the increase in the current account deficit that registered $14.5bn between July 2015 and March 2016, versus $8.4bn year-on-year (y-o-y).
Debt repayment to Qatar and Paris Club countries is likely to impact reserves by the end of July
Ministry of Finance reveals its intention to borrow EGP 317.5bn from banks in Q1/FY 2016/17
CBE will not keep current rates and may be reversed in three months, given their negative effect, says analyst
Reuters reported on Monday that Egypt is negotiating a loan worth $5bn; Amer denies to Daily News Egypt
Tarek Amer, the CBE’s governor, issued a decision at the end of March limiting the tenure of bank heads to nine consecutive or intermittent years.
Limited changes seen at NBE, Banque Misr, Banque Du Caire, and IDBE, although return on treasury bonds and bills was raised by 1%
Tourism income dropped to $6.1billion in 2015, compared to $7.3bn during 2014
Ministry of Finance cancels 10-year term bonds initially planned to be issued on Monday due to interest rate increase
The CBE’s accompanying report on the decision was issued without Al-Mashat’s signature for the first time in 11 years
Analysts predicted that purchasing powers will be dominant during the trading session and push the EGX-30 index to reach 7,480 points amid weak trading volumes
Banks will watch the decision’s impact’s yield on treasury bills and bonds before deciding their interest rates, Abdel-Fattah
The deflationary policy will increase inflation and production costs will climb, says Tawfik
The Central Bank of Egypt faces difficulty on inflation hike of more than 2% in May
El-Menilawy added that the CBE on Tuesday morning had asked the departments responsible for issuing letters of credit in banks to submit reports of the requests of customers whose intermediate goods are stuck in customs.
The bank auctioned $700m that will mature in one year’s time on 31 June 2017.
The new law does not exclude the bank from Ministry of Agriculture supervision
The new figure marks an increase of $5.6bn (11.8%), the CBE reported
The Central Bank of Egypt (CBE) issued on Wednesday the regulations for implementing the initiative to finance medium enterprises operating in the sectors of agriculture and industry
Egyptian entrepreneurs and banking experts create innovative solutions for credit underwriting of SMEs
Amer demonstrates with Al-Sisi the CBE’s efforts to support foreign exchange reserves and banks’ role to alleviate foreign currency crisis in the market