A strong currency is one that trades where the world believes it should and stays there not by decree but by design.

Along with record inflation and a sharp weakening of the currency, the outages have become a potent symptom of the worst economic crisis to hit Egypt since Sisi took power in 2014 on promises of ...

Egypt's currency weakened to 18.71 to the U.S. dollar on Wednesday, a five-year low, before strengthening again, Refinitiv Data showed. CAIRO, June 8 (Reuters) - Egypt's currency weakened to 18.71 ...

CAIRO — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an ...

Two of Egypt's largest state-run banks issued saving certificates with unprecedentedly high interest rates on Wednesday, as the country's currency plunged to a record low and national monetary ...

CAIRO, Sept 7 (Reuters) - As Egypt pushes for a new IMF loan it has a choice between letting its overvalued currency weaken gradually and the kind of sharp depreciation it enacted in a similar ...

CAIRO, Aug 13 (Reuters) - Egypt's foreign currency gap narrowed to $400 mln last month from $3.9 bln in February, deputy governor of the Central Bank of Egypt Gamal Negm said on Saturday.

The Central Bank of Egypt revealed that net foreign currency reserves initially reached US$33.14 billion at the end of July 2022, compared to $33.37 billion at the end of June. The balance of payments ...

Egypt signed a local-currency swap agreement worth around $1.4 billion with the United Arab Emirates, as the North African nation seeks ways to ease an economic crisis. The deal will allow for the ...

Six years after going through an economic crisis that led it to devalue its national currency and take out a $12 billion (€12.34 billion) loan from the International Monetary Fund (IMF), Egypt ...