CAIRO: A report released by the Central Bank of Egypt on Tuesday, December 6 revealed a drastic decline in the country's foreign reserves, which will now only cover 5.2 months of imported goods, totaling U.S. $22.1 billion at the end of (...)
The Central Bank of Egypt will officially announce the size of international reserves of foreign currencies in Egypt by measuring the rate of decline occurring during reserves in November 2011, a prominent banker source told Youm7.
The sources (...)
CAIRO: The purchace price of the Egyptian pound has fallen to its lowest level in seven years, reaching 6.0036 EGP to $1 USD today, Tuesday Nov. 29.
Some traders said the Central Bank of Egypt spent about $2 billion of its foreign reserves in (...)
A statement issued on Saturday, Nov. 12 by the Central Bank of Egypt denied any activity in former Egyptian President Hosni Mubarak's or his family's bank accounts since the 2011 Revolution in accordance with orders from the bank and the public (...)
Egypt will not go bankrupt, assured the deputy chairman of the Central Bank of Egypt, Hashem Ramez, and the Egyptian economy is secured and stable so far. He said the foreign exchange reserve overcame the most difficult phase since the incidents of (...)
Ahly Bank Egypt received an award of Best Bank in Africa in the field of social responsibility 2011 from the African Banker institution. Ahly Bank Egypt won the award during the ceremony hosted by the institution in Washington D.C.
Deputy (...)
The Central Bank of Egypt said the weight of deposited gold reached 75.6 tons, at an estimated value U.S. $4.4 billion, after finishing inventory process in 2011 and matching with the results of the previous inventory in 2006.
The bank added the (...)
Egyptian foreign currency reserves lost U.S. $700 million (4.2 billion EGP) in August, settling at U.S. $25 billion (149 billion EGP), putting the reserves at a risky level, according to a principal at the Central Bank of Egypt.
The bank released a (...)
The total reserves of the foreign exchange in the Central Bank of Egypt declined from U.S. $33.3 billion last February to U.S. $25.7 billion in July. The reserves cover 6.2 months of Egypt's imports of goods, according to a new report.
The report (...)
The Central Bank of Egypt (CBE) issued a statement instructing private banks on their obligations concerning banking regulation.
Each bank must implement ensure that banks are able to absorb their risk level by beginning of March 2012. Each bank (...)
VISA and Lonely Planet launched a small tourism website including all travel experts' advices about the most important international touristic places – including Egypt – and the best payment methods.
By visiting www.visa.com/lonelyplanet, users (...)