JP Morgan expects $16.2B increase in Egypt’s FX reserves in FY2024/25

JP Morgan expects an increase of $16.2 billion in Egypt’s foreign exchange (FX) reserves in the coming fiscal year (FY) 2024/2025 and $2.6 billion in FY 2025/2026.

Updated 5/4/2024 10:07:00 AM

Goldman Sachs expects Ras El Hekma deal to end Egypt’s foreign exchange crisis soon

The US-based investment bank Goldman Sachs expects an end to the foreign exchange crisis in Egypt within days or weeks at maximum following the government’s $35 billion Ras El Hekma deal with Abu Dhabi Developmental Holding (ADQ).

Updated 2/25/2024 7:34:00 AM

CBE cancels operation licenses of 7 foreign exchange firms over lack of capital

The Central Bank of Egypt (CBE) has cancelled the operation licenses of seven Egyptian foreign exchange companies due to the lack of capital.

Updated 12/26/2023 2:23:00 AM