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Foreign exchange reserves stable in November

Foreign exchange reserves were stable in November at $16.4226bn, the Central Bank of Egypt revealed Thursday.‫ Foreign exchange reserves similarly did not record any changes in October under the leadership of former governor Hisham Ramez, amounting to $16.4148bn.

Hossam Mounir

Oil diminishes interest rates

By Ahmed El-Wahsh Central Bank of Egypt (CBE) director, Hisham Ramez took the decision of unexpectedly cutting nationwide interest rates by 50 basis points on the inflation expectation. This decision was implemented due to the current volatility of the crude oil prices per barrel that had been fluctuating, since the organisation of the petroleum exporting …

Daily News Egypt