Arab Today, arab today cbe sells 15bn of foreign reserves
Last Updated : GMT 00:38:13
Arab Today, arab today
Arab Today, arab today

To boost the banking sector

CBE sells $1.5bn of foreign reserves

Arab Today, arab today

Arab Today, arab today CBE sells $1.5bn of foreign reserves

Central Bank of Egypt (CBE)
Cairo - Arab Today

Central Bank of Egypt (CBE) Cairo - Arab Today The Central Bank of Egypt (CBE) held a fourth exceptional auction to sell $1.5 Billion of its foreign reserves to boost the banking sector. In a statement the central bank said that banks would be required to designate the amount of US dollars needed as per their clients' import needs. According to the statement, such imports should fall under the categories of basic food commodities, intermediary production components, raw materials, capital goods, spare parts and pharmaceutical components. Experts view the move seeks to limit the authority of exchange companies. The CBE recently closed 19 exchange companies so there is a need of another resource for institutions and companies to access funds. This exceptional auction will help in depreciating the value of US dollar against the Egyptian pound. Last September, CBE sold $1.3 Billion in a similar exceptional auction, as well as $600 Million in an April auction and $800 Million in May. Since December 2012, the central bank has been restricting access to US dollars by hosting dollar auctions up to three times a week. The move is an attempt to ration the supply of dollars and give priority to staple food imports due to the state's dwindling foreign reserves, according to financial experts. Source: BNA

arabstoday
arabstoday

GMT 14:39 2017 Tuesday ,19 September

Catherine proud for contract with Morocco

GMT 20:39 2017 Wednesday ,13 September

Al Shamri calls for supporting the Islamic

GMT 03:58 2017 Wednesday ,13 September

Saudi is ready to expand production cuts

GMT 09:43 2017 Sunday ,10 September

Workplace safety key concern

GMT 18:47 2017 Sunday ,03 September

Diplomat underlines importance of visit

GMT 17:39 2017 Saturday ,02 September

Minister underlines support for OPEC cut deal

GMT 19:47 2017 Friday ,01 September

MP blames government for performance

GMT 20:21 2017 Tuesday ,29 August

Dow, Aramco Possible Equity of Sadara
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cbe sells 15bn of foreign reserves Arab Today, arab today cbe sells 15bn of foreign reserves

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cbe sells 15bn of foreign reserves Arab Today, arab today cbe sells 15bn of foreign reserves

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday