Central Bank of Egypt

CAPMAS: Inflation rate jumps to 29.6% in Jan.

Cairo - MENA

Egypt's annual inflation rate jumped to 29.6 percent in January up from 24.3 percent in December, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The annualized urban consumer price inflation jumped to 28.1 percent in January from 23.3 percent in December, its highest level since Central Bank of Egypt (CBE) records began in 2005, CAPMAS said onRead more

Bank account opened for donations to build mosque, church in new capital

Cairo - MENA

A bank account has been opened at the Central Bank of Egypt and other banks for donations to build a civilization center, a mosque and a church in the new administrative capital, presidential sources said on Monday. The account number is 4001040010, the sources said. President Abdel Fattah El Sisi announced during his recent visit to the Saint Mark CopticRead more

Egypt's balance of payments surplus hits $1.9bn in Q1 of 2016/7

Cairo - MENA

Egypt's balance of payments recorded an overall surplus of some USD 1.9 billion during the first quarter of 2016/2017, against USD 3.7 billion in deficit the previous year, the Central Bank of Egypt (CBE) said in a statement. The capital and financial account resulted in a net inflow of around USD 7.1 billion, compared to some USD 1.6 billion. TheRead more

CBE fixes interest rates on deposits, loans

Cairo - MENA

The Central Bank of Egypt decided on Thursday to stabilize the interest rate for one night on deposits and loans at 14.75 and 15.75 percent respectively. The decision was made by the CBE Monetary Policy Committee during a meeting today. Also, the committee decided to fix the rate of the CBE’s main operation at 15.25 percent and stabilize the rateRead more

Source denies reports on CBE governor resignation

Cairo - MENA

An informed source denied on Wednesday media reports about the resignation of the Central Bank of Egypt (CBE) Governor Tareq Amer. Speaking to MENA, the source stressed that Amer still assumes his duties normally. The source called on mass media to seek accuracy and stop spreading rumours to maintain Egypt's economy.Read more

Banks close doors Sunday on end of fiscal year

Cairo - MENA

The Central Bank of Egypt (CBE) decided that all banks will close their doors on Sunday, January 1, on the occasion of the end of the fiscal year on December 31. Work will resume in banks in January 2, said a statement issued by the CBE on MondayRead more

CBE to establish fund to renovate hotels, resorts

Cairo - MENA

The Central Bank of Egypt will be establishing a fund to upgrade hotels, resorts and floating boats. Worth five billion pounds, the fund should help owners of hotels and resorts to renovate and maintain their tourist property, said CBE governor Tareq Amer Sunday. Investors should at least own 30 percent of the facility to be able to benefit from theRead more

Finance ministry auctions EGP 500m T-bonds

Cairo - MENA

The Finance Ministry auctioned on Monday treasury bonds at a total value of EGP 500 million. In an online statement, the ministry said it sold EGP 250 million of five-year bonds (maturing on August 16, 2021). The average yield was 16.718 percent. It also sold EGP 250 million of ten-year bonds (maturing on July 5, 2026) that had a couponRead more

182-, 357-day T-bills auctioned

Cairo - MENA

The Finance Ministry auctioned on Thursday treasury bills at a total value of EGP 7.5 billion. In an online statement, the ministry said it sold EGP 4.5 billion of 182-day T-bills with an average yield of 19.112%, adding it accepted bids at rates between 18.1% and 19.19%. As for the 357-day T-bills, worth EGP 3 billion, they achieved average revenueRead more

Finance ministry auctions EGP 500m T-bonds

Cairo - MENA

The Finance Ministry auctioned on Monday treasury bonds at a total value of EGP 500 million. In an online statement, the ministry said it sold EGP 250 million of three-year bonds (maturing on 6 September, 2019). The average yield was 16.6 percent. It also sold EGP 250 million of seven-year bonds (maturing on August 9, 2023) that had a couponRead more