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Egypt pound will not collapse says key officialThe Egyptian pound will not collapse and its incremental depreciation has stabilised, a senior aide to Islamist President Mohamed Mursi said. Essam Haddad, More… |
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Egypt pound hits record low after forex auctionEgypt's pound weakened to a record low against the dollar in interbank trade after a foreign currency sale on Thursday, but trading volumes were low as authorities reduced the flow of dollars More… |
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Egypt pound hits new low against dollarThe 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. More… |
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Egypt pound continues fall at dollar auctionThe Egyptian pound weakened at a central bank auction of dollars on Thursday, the eighth such sale since it introduced a new regime to reduce pressure on its currency. The bank said the cut-off price at the auction was 6.5099 poun More… |
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Egyptian pound hits record low against dollarThe Egyptian pound fell to a new record low against the US dollar on Tuesday, extending its decline to 4.6 per cent since December 30 when the central bank began a new system of auctions to contain a currency crisis. Hit by politi More… |
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Egypt pound's decline slows at 4th auctionEgypt'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 More… |
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Egypt pound slides again at 2nd currency saleEgypt's pound fell further at the central bank's second auction of foreign currency under its new regime on Monday, with $74.8 million sold to banks at a cut-off price of 6.3050 Egyptian pounds. This was weaker than the Su More… |
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Egypt pound will stabilise in days: MursiEgypt'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. More… |
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Egypt pound hits record low on new currency regimeThe Egyptian pound hit a record low on Sunday of about 6.30 to the dollar after the central bank introduced a new currency regime, bankers said. The previous low for the pound, in October 2004, was about 6.26 to the dollar. The po More… |
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Egypt pound falls; devaluation fears spreadThe Egyptian pound fell to its weakest in almost eight years as concerns the government might devalue or place restrictions on currency movements prompted citizens to pile into dollars, forex traders said. More… |
