cbe to adopt more flexible policy on foreign exchange rate
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

CBE to adopt more flexible policy on foreign exchange rate

Arab Today, arab today

Arab Today, arab today CBE to adopt more flexible policy on foreign exchange rate

Tarek Amer,
Cairo - MENA

The Central Bank of Egypt (CBE) announced that it will adopt a more flexible policy within the upcoming period related to the foreign exchange rate to reflect the real value of the local currency. 

In a statement Monday received by MENA, the CBE said that this policy aims to promote prospects of luring investments. 

The CBE devalued the pound by about 15 percent on Monday morning to reach 8.85 pounds in an exceptional tender that stands at 200 million dollars against 7.73 pounds. 

The CBE expected these decisions to reflect the real value of the local currency in a short period. 

The CBE also said that it aims to lure the foreign investment after restoring the competitive capabilities of the national economy. 

This measure will contribute to providing goods in the local market in order to secure the citizens' needs, added the CBE. 

Upon directives issued by President Abdel Fattah El Sisi to CBE Governor Tarek Amer, the CBE said that necessary measures are taken to attain monetary stability in order to provide the required climate for economic development and create job opportunities. 

The CBE has taken over the past period confronting several challenges by taking a number of important decisions in order to restore confidence to the economy and ensure providing basic commodities.

arabstoday
arabstoday

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*

cbe to adopt more flexible policy on foreign exchange rate cbe to adopt more flexible policy on foreign exchange rate

 



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*

cbe to adopt more flexible policy on foreign exchange rate cbe to adopt more flexible policy on foreign exchange rate

 



GMT 13:42 2015 Saturday ,04 April

Libyan warplane targets camp in Gharyan town

GMT 15:14 2017 Wednesday ,01 March

UN documents nearly 1,500 child soldiers in Yemen

GMT 07:24 2017 Sunday ,01 October

Mexico unlikely to find more quake survivors

GMT 16:15 2015 Wednesday ,11 November

German intelligence 'spied' on Fabius, FBI, UN bodies

GMT 01:32 2017 Saturday ,15 April

Russia's Putin earns about 157,000 USD in 2016

GMT 16:30 2017 Saturday ,15 July

Minister of planning gives priority

GMT 19:45 2017 Wednesday ,05 April

President of Senegal Meets Attorney General

GMT 05:18 2017 Thursday ,21 September

Over 80 missing after migrant boat sinks off Libya

GMT 19:22 2017 Saturday ,01 April

UN: Number of Syrian Refugees Tops 5 million

GMT 15:16 2016 Thursday ,29 September

FBI to put up database on police use of deadly force

GMT 05:06 2016 Friday ,30 September

Indian markets open flat
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday