Oil & Currencies

Photo Credit: Mubasher
22 March 05:22 PM Al-Tayyar not harmed by EGP flotation - CEO
By: Mohammed Idris Riyadh - Mubasher: The CEO of Al Tayyar Travel Group Holding, Abdullah Nasser Al Dawood, said his company has no fears of the pound flotation and its effects on the group and its investments in Egypt. The group provisions, …
The US Federal Reserve is expected to raise interest rates in March - (Photo Credit: Arabianeye-Reuters)
8 March 06:18 PM USD to surpass EGP 18 on imports, interest rate hike
Cairo - Decypha: Economists are expecting the US dollar to continue with its recent upward trend that began a week ago, as the USD exceeded the level of EGP 18. The dollar continuous upsurge is expected as demand increases with Ramadan …
Gold prices are expected to decline to 1,220-1,200 points (Photo Credit: Arabianeye-Reuters)
26 February 06:17 AM US dollar likely to strengthen; gold prices to decline
By: Mahmoud Gamal Mubasher: The US dollar is expected to rise this week, amid anticipations of strong economic data that will increase the possibility of a rate hike by the US Federal Reserve next month; thus, pushing gold prices down. The US …
Locally manufactured goods can substitute imports to local and foreign markets - (Photo Credit: Arabianeye-Reuters)
22 February 02:50 PM Flotation marks new beginning for Egyptian economy - PwC
Cairo - Mubasher: The Central Bank of Egypt’s (CBE) decision to float the Egyptian pound was a step in the right direction towards a free and growing economy, according to a report by PricewaterhouseCoopers (PwC) Middle East, published Wednesday. …
(Photo credit: Arabianeye - Reuters)
19 February 06:22 AM Gold falls, US dollar recovers on economic figures
By: Mahmoud Gamal Mubasher: The announcement of growth in US consumer prices led to profit gains by gold traders and gave the US a space to recover. The US trade department said that the consumer prices index (CPI) for all items rose 0.6% in …
(Photo credit: Arabianeye-Reuters)
17 February 11:41 AM Gold falls Friday, eyes weekly gains
Mubasher: Gold prices were down during Friday's trades. Despite that, the precious metal is looking to record weekly gains by around 0.3%. Spot gold prices declined 0.21% to $1,238.85 per ounce by 0831 GMT, while the metal's future contracts lost …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
16 February 11:07 AM CBE expected to maintain interest rates
By: Noha Al-Nahhas Cairo - Mubasher: Analysts are expecting the monetary policy committee of the Central Bank of Egypt (CBE) to maintain interest rates in its meeting on Thursday. Last November, the CBE raised interest rates by 300 basis points …
Photo Credit: Arabianeye-Reuters
16 February 12:05 AM Egypt lowers USD customs exchange rate to EGP16
Cairo - Mubasher: The Egyptian ministry of finance (MoF) announced on Wednesday that it will adjust the customs exchange rate for the US Dollar to EGP 16 down from EGP 18.5. The decision is effective beginning Thursday until the end of February, …
The US Dollar recently declined to levels below EGP 17 - (Photo Credit: Arabianeye-Reuters)
14 February 04:35 PM Egyptian importers demand changing customs USD rate
By: Mostafa Adel Cairo - Mubasher: The head of the importers division at the Cairo Chamber of Commerce told Mubasher that there are currently negotiations with the ministry of finance (MoF) to review the fixed customs exchange rate for the US. It …
The Dollar went down below EGP 17 on Monday - (Photo Credit: Arabianeye-Reuters)
13 February 07:55 PM USD flows helped the rise of the Egyptian Pound
By: Mahmoud Salah and Heba Al-Kordi Cairo - Mubasher: The Egyptian Pound defied expectations of falling against the US Dollar since the Central Bank of Egypt’s (CBE) decision to free the exchange rate on 3 November. The pound went up 4.8% on …
Inflation rate went up 29.6% in January - (Photo Credit: Arabianeye-Reuters)
13 February 12:03 PM Egypt’s inflation to continue rising till late 2017
Cairo - Mubasher: MubasherTrade Research expects high inflation rates in Egypt to continue until the latter half of the year by around November 2017, according to a recent report. A higher month-on-month figure in January raises questions about …
These are the lowest USD exchange rates seen in Egyptian banks in 2017 - (Photo Credit: Arabianeye-Reuters)
8 February 08:34 PM USD below EGP18 in 6 banks
Cairo - Mubasher: Wednesday’s night trade in Egyptian banks saw a decline in the exchange rate of the US Dollar against the Egyptian Pound to levels below EGP 18. At Abu Dhabi Islamic Bank (ADIB) the dollar registered EGP 17.9 for buying and …