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On 3 January 2021, the dinar was devalued to US$1 = LD 4.48 for all transactions following exchange rate unification, closing the gap between the official and black market exchange rates. [ 4 ] Coins
CAIRO/DUBAI (Reuters) -Egypt secured on Wednesday an expanded $8 billion deal with the International Monetary Fund, hours after the central bank unshackled its currency and delivered a 600 basis ...
During the period from 2014 to 2024, Egypt's total external debt doubled. The total external debt amounted to about US$165.4 billion by the end of the first quarter of 2023. The Central Bank of Egypt revealed that the value of Egypt's external debts due for repayment was equal to about US$29.229 billion during 2024. [8] [9]
July 18 – Egypt's Suez Canal reported a 23.4 percent drop in revenues attributed to disruptions in Red Sea shipping over the past year, marked by attacks from Yemen's Houthi militia on Israeli-linked vessels. [20] July 30 – Five people are killed and nine others are injured when a boat capsizes on the Nile River in Cairo. [21]
In an online statement late Thursday, the bank’s monetary policy committee said the most basic lending rate, the overnight deposit rate, was increased from 18.25% to 19.75%.
The gap between official and black market exchange rates continues to widen, with many people and informal traders who dominate the economy again preferring the more stable dollar.
The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal. [ citation needed ] In many rural areas there is still a strong bartering culture, the exchanged items being of more immediate value than official currency (following the principle that one can ...
Brazil expects the South American trade bloc Mercosur to speed up more free trade negotiations after clinching a deal with the European Union, as the threat of U.S. tariffs forces countries to ...