egyptian pound

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Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies

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In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel market, according to the latest Bank of Ghana data, one greenback buys around 10.36 … Read more

Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime

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The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary Fund, the monetary authorities in Egypt have … Read more

Egyptian Currency Plunges 15% After Cairo Accedes to Key IMF Exchange Rate Condition

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After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary Fund (IMF) before it eventually approved a $3 … Read more

Study: MENA Crypto Volumes Grew Fastest Between July 2021 and June 2022 — Turkey Cements Position as Region’s Largest Market

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Of the $566 billion in cryptocurrency transaction volume for the Middle East and North Africa (MENA) region between July 2021 and June 2022, nearly 40% went to Turkey, which kept its place as the region’s biggest cryptocurrency market, according to the latest Chainalysis data. In Afghanistan, the Taliban’s takeover has seen the value of cryptocurrencies … Read more

Egyptian Pound Latest African Currency to Slump to Record Low Versus US Dollar

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The Egyptian pound recently became the latest currency from the African continent to see its value versus the greenback slump to a record low. The pound’s fall came amidst reports suggesting the Egyptian government is hoping to strike a loan deal with the International Monetary Fund (IMF) within a month or two. Egyptian Pound Still … Read more

Egypt Limits Bank and ATM Withdrawals Citing Rampant Cash Outflow and Coronavirus Fears

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On Sunday, the Central Bank of Egypt (CBE) announced it had instructed financial institutions in the country to put withdrawal limits in place for cash. Regional reports disclose that Egyptian residents can only withdraw 10,000 Egyptian pounds ($640) and businesses can only withdraw 50,000 pounds ($3,200). The CBE cited concerns over the covid-19 outbreak and … Read more