Against the US dollar on Monday
Egypt pound rebounds from flotation slide
The Egyptian pound strengths against the US dollar
Cairo - Arab Today
The Egyptian pound strengthened against the US dollar on Monday, regaining ground after record lows which followed the central bank's decision to float the currency in November.
After plunging to 8.83 pounds against the dollar before the flotation to almost 20 in December, the pound has strengthened since last week to reach less than 16 against the dollar.
Faced with plummeting foreign currency reserves since its 2011 revolution, the central bank floated the pound and the government cut fuel subsidies, in moves which helped secure a $12-billion loan from the International Monetary Fund.
International investors, reacting favourably to the flotation, have since shown strong interest in government bonds and treasury bills.
The inflows as well as the IMF loan's first tranche worth $2.75 billion have made dollars more available, said Ahmed Abdelnaby, a strategist at Mubasher Financial Services.
But he cautioned that Egypt has yet to see a substantial increase in direct investments.
GMT 13:01 2018 Monday ,22 January
Trump lashes out ahead of vote to end shutdownGMT 13:06 2018 Sunday ,21 January
Trump and 'Davos Man': best of enemiesGMT 11:43 2018 Friday ,19 January
Calls for action over dirty money flowingGMT 14:39 2018 Thursday ,18 January
Watchmakers hope to make Chinese market tickGMT 14:28 2018 Thursday ,18 January
Economists call for overhaul of eurozone fiscal rulesGMT 12:57 2018 Wednesday ,17 January
Trump visit set to eclipse Davos meetGMT 09:19 2018 Tuesday ,16 January
No Brexit deal would cost Scotland £12.7bn: studyGMT 12:14 2018 Monday ,15 January
As Trump clamps down, migrant workers have much to lose
Argentine peso starts to recover after two days of crashes
Buenos Aires - AFP
Argentina's peso began to recover on Friday as markets opened, making a tiny 0.68 percent gain after losing 20 percent of its value against the dollar over the previous twoTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Al Maghrib Today
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onVAR in Champions League only from 2019-20 season
Moscow - AFP
UEFA are set to wait until next season before introducing Video Assistant Referees (VAR) in the Champions League, although they are still not ruling out having it in this season's final, president Aleksander Ceferin said on Friday. Ceferin has soFor $11.6 bn
Sanofi buys US haemophilia treatment firm
Paris - Al Maghrib Today
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances itsParis show pays homage
To 'eternal style' of late Alaia
Paris - Al Maghrib Today
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led hisGMT 09:22 2018 Monday ,22 January
Skincare PR Performance Full Year 2017GMT 11:03 2018 Wednesday ,24 January
New hunt for flight MH370 gets under wayGMT 10:57 2017 Thursday ,21 December
Modern colorful bedroom renovationGMT 13:56 2018 Tuesday ,23 January
Puigdemont candidate for Catalan presidentGMT 10:47 2018 Wednesday ,24 January
Turkey detains dozens moreGMT 10:46 2018 Tuesday ,16 January
The Rake announces editorial updatesGMT 11:51 2018 Tuesday ,23 January
Europe brings on charm and blue skiesGMT 10:46 2017 Tuesday ,19 December
For the Variety of Interior Design StylesGMT 13:44 2018 Monday ,22 January
US Christian tourists see deep meaningGMT 10:03 2018 Tuesday ,23 January
Amazon to open first cashierless shop
GMT 10:18 2016 Wednesday ,23 March
cartoon seven
GMT 10:23 2016 Wednesday ,23 March
cartoon fourteen
GMT 10:16 2016 Wednesday ,23 March
cartoon five
GMT 10:21 2016 Wednesday ,23 March
cartoon elevenGMT 06:25 2013 Monday ,01 April
Syrian singer George Wassouf abandons Assad’s regimeGMT 11:46 2012 Monday ,10 December
Messi scores record-breaking goal
GMT 14:12 2017 Tuesday ,19 December
Chastain on the rise and fall of Hollywood's 'poker princess'
GMT 18:52 2017 Monday ,21 August
Saudi will prepare a forum to support small and medium enterprises
GMT 20:54 2017 Saturday ,07 October
Toyota plans to build new Auris in UK on assumption of Brexit transition deal
GMT 12:39 2018 Saturday ,13 January
Japan's 'Virtual Currency Girls' debut
GMT 10:59 2018 Monday ,08 January
Canine couture cuts a dash
GMT 08:19 2017 Thursday ,05 October
Vegas shooter's girlfriend says had no clue planning carnage
GMT 07:18 2018 Wednesday ,03 January
‘I am Very Happy to be Part of the Moroccan Football Team’: Sofiane Boufal
GMT 14:16 2017 Friday ,18 August
Vivid accounts of Spain attacks from five witnesses
GMT 09:58 2017 Sunday ,26 November
US stocks at records; euro gains on hopes of German political deal
GMT 21:22 2017 Saturday ,16 September
ESPA unveils All is Calm All is Bright Christmas collections and debut advent calendar
GMT 10:42 2017 Friday ,20 October
George W Bush slams Trump-era politics
GMT 09:03 2017 Thursday ,09 November
Slash antibiotic use in animals
GMT 10:42 2017 Saturday ,15 July
Costa Rica, Canada reach quarter-finals of Gold Cup
GMT 18:52 2017 Sunday ,15 October
Emirates launches $15 million “Don’t stop me now” ad campaign
GMT 11:40 2018 Saturday ,01 September
Army continues to eradicate remnants of Daesh terrorists
GMT 15:15 2017 Tuesday ,03 October
Russian court sentences Putin foe Navalny to 20 days in jail
GMT 07:27 2017 Saturday ,29 July
Schoolgirls in Iraq's Mosul aim to catch up on lost years
GMT 23:18 2017 Saturday ,29 April
Turkey's military said it killed 14 members of the group Kurdistan Workers Party (PKK) in air
GMT 17:26 2017 Monday ,23 October
Ukrainian anti-corruption detectives raid top mayor
GMT 20:25 2017 Saturday ,14 October
Gaza Instagram stars want world to get the picture
GMT 09:10 2018 Sunday ,21 January
Kyrgios topples idol Tsonga in electric clash
GMT 13:48 2018 Monday ,15 January
Erdogan threatens to 'nip in the bud' new US-backed Syria force
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor