Thursday 17 April 2014
 
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Foreign currency

Egypt pound hits new low against dollar

The Egyptian pound weakened to a new record low against the US dollar on Thursday, extending its losses to 6.4 percent since the central bank introduced a new system of foreign currency auctions to curb a decline in foreign reserves.

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Egypt pound's decline slows at 4th auction

Egypt's pound slid further on Thursday at the central bank's fourth auction of foreign currency and hit a new record low in the interbank market although the pace of its decline slowed from earlier in the week. The central

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Egypt pound will stabilise in days: Mursi

Egypt's president held out hope that a weakening pound could stabilise within days under a new regime implemented to fend off financial ruin and safeguard reserves needed to ensure food and fuel imports in a political crisis.

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SABB launches e-platform for foreign currency

The Saudi British Bank (SABB), an associated company of the HSBC Group, said it has launched an innovative foreign currency portal for corporate clients to use in their foreign currency trading operations. The online platform feat

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UAE foreign currency assets soar to $51bn

The UAE central bank's foreign currency assets rose to Dh189.1 billion ($51.5 billion) in August from 186.8 billion in the previous month, mainly because of a rise in holdings of foreign securities, its data showed on Thursday.  

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Top agency reaffirms GIB currency ratings

Bahrain-based Gulf International Bank's (GIB) long-term and short-term foreign currency ratings have been reaffirmed by Capital Intelligence at A and A1 respectively, while the bank's financial strength rating is also maintained at BBB+. A

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UAE Sept foreign assets fall to 7-month low

The UAE central bank's foreign currency assets fell to a seven-month low of Dh182.6 billion ($49.7 billion) at the end of September from Dh187.9 billion in the previous month, central bank data showed on Wednesday. Gulf oil exporters s

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Emirates NBD offers free forex transfers

Emirates NBD, a leading bank in the region, has announced that its foreign currency telegraphic transfer facility is free of charge for online banking customers until June 30. “Today’s announcement will enable our customers to make all for

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Egypt's Suez Canal Jan revenues down at $416m

Revenue from Egypt's Suez Canal dropped 1.6 per cent to $416.6 million in January from $423.4 million in December, a state website showed on Wednesday. The waterway is a vital source of foreign currency in Egypt, along with tourism, oi

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Suez Canal revenue falls 16.7pc

Revenue from Egypt's Suez Canal declined 16.7 percent to $2.262 billion in the period from July to December 2009, the central bank said on its website on Thursday.    Revenue was $2.715 billion in the same period a year ago

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