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FX reserves climbed to $44.029bn end-April 2018: CBE

Foreign exchange reserves at the Central Bank of Egypt continued to rise in April 2018, reaching $44.029bn from $42.611bn at the end of March 2018, an increase of about $1.418bn. This marks the highest level of foreign exchange reserves in the history of the Central Bank of Egypt. The reserves are sufficient to cover over …

Hossam Mounir

CBE lowers interest rates 1% for the first time since floatation

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided to lower the overnight deposit rate, the overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation by 100 basis points to 17.75%, 18.75%, and 18.25% respectively. The discount rate was also reduced by 100 basis points to 18.25%. …

Mohamed Samir

Registration for 1st phase of “women leading the future” programme opens

The Central Bank of Egypt, the National Council for Women (NCW), and the 50th Forum announced the opening of registration for the first phase of the “women leading the future” programme, which is the first of its kind in a partnership between the government and the private sector. This came during a general meeting, which …

Nihal Samir