All
 

 

Just in:  

You are here: Home»Business»Banking & Finance»Egypt offers banks $75mn at maiden foreign currency auction

Egypt-central-bankCAIRO: Egypt's central bank said it was offering $75 million at its first foreign currency auction on Sunday, with a maximum $11 million per bank.

 

The auction is part of a new currency regime the bank announced on Saturday to conserve its foreign reserves, which it said have fallen to a critical level.

 

Under the regime, Egyptian banks will not be able to hold long positions in US dollars of more than 1 percent of their capital, down from a previous 10 percent, corporate clients will be limited to daily cash withdrawals of $30,000 and individuals who purchase foreign currencies will be charged a 1-2 percent administrative fee, bankers said.

 

Copyright Reuters, 2012


 



 
Index Closing Chg%
Arrow DJIA 18,041.54 1.04
Arrow Nasdaq 5,032.75 1.11
Arrow S&P 2,104.20 1.03
Arrow FTSE 6,948.99 1.18
Arrow DAX 11,625.13 1.61
Arrow CAC-40 5,083.54 0.66
Arrow Nikkei 20,437.48 0.12
Arrow H.Seng 28,249.86 0.92
Arrow Sensex 27,531.41 0.41





New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk



Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln