The Egyptian central bank has instructed banks to 'strictly conform' to prevailing international market rates in trading of non-US dollar foreign currencies, according to a statement seen by Reuters.
"Kindly note that
Abu Dhabi-based forex and commodities trading firm ADS plans to gain a licence to operate in the UK by early next year and has become one of the first Middle East brokers to start pricing the Chinese currency for customers in the region, its man
ADS Securities, the Middle East's leading forex brokerage and one of the fastest growing FX trading companies globally, has announced the launch of its new multi-asset online trading platform.
Orex Optim is the first proprieta
Egypt's foreign reserves jumped in July to their highest in 20 months, the central bank said on Monday, boosted by $5 billion that Gulf states sent to Egypt after the army removed Islamist President Mohamed Mursi from power on July 3.
Egypt's foreign reserves fell by $1.12 billion in June to $14.92 billion, the central bank said on Sunday, underlining the perilous state of the country's finances as a new military-backed government takes on the reins of power.
Deutsche Bank has been named the leading forex (FX) bank in the Middle East with 16.15 per cent of overall market share.
This is attributed to the significant investment Deutsche Bank made in upgrading its pricing and distribution syste
The Egyptian central bank sold $38.5 million to banks in a foreign currency auction on Monday, with a cut-off price of 6.8765 Egyptian pounds to the dollar.
The cut-off price at an exceptional foreign currency auction held on Sund
Egypt's central bank has tightened the pound's trading band in the interbank foreign exchange market in an apparent move to slow the currency's decline, a forex dealer at a Cairo bank said on Monday.
Banks may now only