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Central Bank of Egypt leans on currency devaluation

By Oxford Business Group A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading. The controlled devaluation of the currency earlier this year from EGP 7.14 to EGP 7.62 to the dollar has …

Daily News Egypt

Piraeus Egypt has highest retail banking portfolio growth for 2014

The slowdown rate in Piraeus Bank-Egypt’s credit portfolio has declined, according to Retail Director Iman El-Essawy. She added that a plan, strategy, and new programme for credit have been prepared, which were approved by the mother company in Greece, and new loans were also offered to citizens. El-Essawy said that the growth of the retail …

Daily News Egypt