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Gold price soars in Egypt as local currency falls

Its central bank in February imposed a requirement for letters of credit for most imports, causing a sharp slowdown in imports and a backlog of goods in ports. This has prompted some importers to buy bullion in Egyptian pounds in order to export abroad as a means to access dollars, a move which Hani Milad, head of the gold division at FEDCOC, said fuelled the price increase.

American universityAl qahirahFederation of egyptian industriesIbrahim hegazyHani miladWasfi wasefAmerican university of cairoFederation of egyptian chambers commerceEgyptian chambersIbrahim hegazy

Gold price soars in Egypt as local currency weakens

Egypt continues to face a foreign currency shortage despite two major devaluations this year, with the gap between the official rate of the Egyptian pound against the dollar and that on the black market widening. Its central bank in February imposed a requirement for letters of credit for most imports, causing a sharp slowdown in imports and a backlog of goods in ports.

American universityAl qahirahFederation of egyptian industriesIbrahim hegazyHani miladWasfi wasefAmerican university of cairoFederation of egyptian chambers commerceEgyptian chambersIbrahim hegazyWasfi wasefEderation of egyptian chambers commerce 39 s

الشباب والرياضة ومجلس الشيوخ | المصري اليوم

الشباب والرياضة ومجلس الشيوخ | المصري اليوم
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بحضور كبار الصحفيين عزاء والد محمد شبانة بالتجمع الخامس بث مباشر

بحضور كبار الصحفيين عزاء والد محمد شبانة بالتجمع الخامس بث مباشر
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وزير الرياضة يشهد حفل ختام وتوزيع جوائز المسابقة الثقافية في المجالات الأدبية

وزير الرياضة يشهد حفل ختام وتوزيع جوائز المسابقة الثقافية في المجالات الأدبية
elbalad.news - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from elbalad.news Daily Mail and Mail on Sunday newspapers.

Port saidBur sa idAl minyaAl qahirahWizarat ash shababAl jizahAl iskandariyahBahi abdul munim muhammadSalah anwarAhmad samirAshraf subhiIbrahim hegazyV mohammed abdel wahabV mary mahmoud muhammadMuhammad aliAli centeri