Latest news with #exchangeRate
Zawya
17-07-2025
- Business
- Zawya
Egypt: IMF expects limited EGP/USD fluctuation, closed official-parallel markets gap
Arab Finance: The Egyptian pound (EGP) to US dollar rate is expected to fluctuate within a limited range, with gaps between the official and parallel markets to remain closed, the International Monetary Fund (IMF) indicated in its latest report. Despite the increase in FX inflows due to the Ras El-Hekma deal, the IMF highlighted that high inflation differentials and widening current account deficit will likely keep generating depreciation pressures. The fund highlighted that the Central Bank of Egypt (CBE) applied a flexible exchange rate regime in March 2024, which continued to yield positive results. The CBE's policy closed the gap between the official exchange rate and the parallel market and eliminated the backlogs of unmet import demands, which boosted trading in the interbank market. The IMF noted that continuous vigilance will be necessary to ensure that this reform is consolidated further over time so that economic agents perceive the exchange rate as truly flexible. Moreover, the report underlined that the CBE did not intervene since the unification to influence the rate, except for select episodes of purchases for reserve accumulation under the program. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Wall Street Journal
10-07-2025
- Business
- Wall Street Journal
Hong Kong Takes Another Currency Hit With a Smile
Danger, Will Robinson: The Hong Kong dollar is in the news again. The Hong Kong Monetary Authority in recent months has intervened at both the top and the bottom ranges of the Hong Kong dollar's fixed exchange-rate band with the U.S. dollar, causing big swings in interest rates. Cue chatter in the financial press about whether Hong Kong's peg to the greenback could be scrapped under market pressure.
Zawya
09-07-2025
- Business
- Zawya
Egypt: USD/EGP exchange rise on Monday
Arab Finance: The US dollar traded at EGP 49.61 for buying and EGP 49.71 for selling at the National Bank of Egypt (NBE) and the Commercial International Bank Egypt (CIB) on Monday. At Banque Misr, the exchange rate hit EGP 49.6 for purchasing and EGP 49.7 for selling at 1:55 PM Meanwhile, the USD recorded EGP 49.62 for buying and EGP 49.77 for selling at the Suez Canal Bank. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Bloomberg
04-07-2025
- Business
- Bloomberg
ECB Risks 2% Undershoot If Euro Strength Persists, Villeroy Says
The European Central Bank is at greater risk of undershooting its inflation target following a sharp appreciation of the exchange rate, Governing Council member Francois Villeroy de Galhau said. Policymakers can't adopt an approach of 'benign neglect' after gains of the magnitude seen since the start of the year, the Bank of France Governor said in an interview with Bloomberg Television on the sidelines of a conference in Aix-en-Provence, France.
Bloomberg
02-07-2025
- Business
- Bloomberg
Taiwan Sets Up Task Force to Help Companies Manage Currency Risk
Taiwan has formed a task force to help exporters and small- and medium-sized enterprises mitigate the impact of the local dollar's sharp appreciation, reflecting growing concern about a surging currency. 'We hope to assist SMEs in coping with exchange rate fluctuations through government support and help them explore the available hedging tools in the current financial environment,' deputy minister Ho Chin-tsang of the Ministry of Economic Affairs said at a briefing Wednesday.
