Saudi Arabia is in discussions with Turkiye to deposit $5 billion in the Turkish Central Bank, Reuters reported a spokesman of the Ministry of Finance in Riyadh as saying on Tuesday. “We are in final [ More … ]
Starting later September, the Russian ruble will be on the list of currencies used by Egyptian banks and be used by tourism companies and hotels in a bid to boost Russian tourism in Egypt, an [ More … ]
For the foreseeable future, it appears that Egypt will remain trapped in a vicious state-sponsored economic cycle that disproportionately harms the poor and the middle class, states a key finding of a report by Carnegie. [ More … ]
Lebanon as a State, and its Central Bank, has gone bankrupt, according to Lebanese Deputy Prime Minister, Saadeh Al-Shami. Lebanon as a State, and its Central Bank, has gone bankrupt, according to Deputy Prime Minister, [ More … ]
The Central Bank of the Republic of Turkey (CBRT) on Thursday lowered its benchmark interest rate — the one week repo rate — by 325 basis points to 16.50% from 19.75%. Following the rate cut, [ More … ]
Treasury and Finance Minister Berat Albayrak says effective Central Bank is among main policy targets of new era. The operational range of the Turkish Central Bank will be expanded through strengthening policy synchronization and unclogging [ More … ]
The Turkish lira swiftly recovered against the dollar and euro late Wednesday, after news of the Central Bank’s (CBRT) emergency meeting. The emergency meeting made crucial decisions to curb the value of the currencies against [ More … ]
Economist Sameh Abu Arayes says loans make up large chunk of purported $42bn of foreign reserves in Egypt Egyptian economics expert Sameh Abu Arayes said on Monday that a claim by the Egyptian Central Bank [ More … ]
New data say yearly inflation fell to 9.79 percent in July, down from 10.9 percent in June Turkey’s annual inflation rate dropped to 9.79 percent in July — its lowest level in six months, the [ More … ]
Turkish central bank has announced to open foreign exchange depot market to enhance flexibility and instrument diversity Turkey’s Central Bank has decided to open Foreign Exchange Deposits against Turkish Lira Deposits market to increase flexibility [ More … ]
USD/lira exchange rate down to 3.81 amid central bank move to cancel 1-week repo auction, after hitting 3.94 on Wednesday Turkey can handle the recent volatility in its local currency, marked by record lows against [ More … ]
BY: Abdel-Hafez Al-Sawi* The Foreign exchange reserve in any country has a specific function, namely, to face the fluctuations in the state’s trading with world countries, and to secure its needs so that its economic [ More … ]
– Repo rate left unchanged at 7.50 percent as expected after being cut seven times since March 2016 – Turkey’s Central Bank on Thursday held key interest rates at their current levels after reducing [ More … ]
The Saudi Arabian Monetary Agency, as the central bank is known, decided to give banks about 20 billion riyals ($5.3 billion) in the form of time deposits “on behalf of government entities”, introducing seven-day and [ More … ]
-Turkish lira regains losses after July 15 defeated coup, sinks below 3 to the dollar – The Turkish lira rebounded Wednesday morning, reaching below 3 per dollar following talks between Russian President Vladimir Putin and Turkish [ More … ]
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