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Episode #5 - EGYPT - Egyptian Pound and Piastres Bank Notes
 
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Today on World Currency Collector we take a trip to the Horn of Africa with our examples from Egypt. We'll learn about the Great Pyramids of Giza, the Great Sphinx, the Saladin Citadel of Cairo, Tutankhamun, the Sayyida Aisha mosque, the Al-Azhar mosque, Ramesses the Great, Sultan Al-Ashraf Sayf ad-Din Qa'it Bay, and the Nubian Monuments. Here are some websites that provide more information about the Egyptian Arabic translations for these notes: http://en.numista.com/forum/topic32281.html http://www.donckelly.com/world/egypt.html http://englishtoislam.net/details-172.html#.WBrEyPkrKUk
Egypt's gov't adopts more flexible exchange rate after devaluation
 
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Egypt's central bank has devalued the pound and said it would move to a more flexible exchange rate policy to ease foreign exchange shortage. The Egyptian currency will now trade at 8.85 to the dollar, down from a previous 7.73. The central bank also pumped nearly $200 million into the dollar-starved banking system in a surprise sale. With tens of millions living in poverty, the central bank had been reluctant to devalue for fear of sparking inflation. Economists said the move would encourage foreign investment in Egyptian stocks and treasuries, which have seen an exodus of foreign money in recent years.
Views: 305 CGTN Africa
Egypt holds foreign exchange auction to stabilize local currency
 
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Egypt's central bank sold $551 million to commercial banks at a rate of 7.73 Egyptian pounds to the dollar in an exceptional foreign exchange auction. The auction was to cover imports of strategic goods. Egypt has been suffering from a foreign-currency crunch due to political turmoil that has gripped the country since the 2011 unrest. CCTV's Yasser Hakim looks at whether the auction has stabilized the Egyptian pound.
Views: 130 CGTN Africa
Egyptian central bank aims to stamp out black market traders
 
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LEAD IN: Egypt's central bank is working to keep the Egyptian pound steady in an effort to crack down on unregulated foreign exchange trading and to also boost investment. After a rapid decline in January, the US dollar is now buying 7.63 pounds, closing the gap between bank and private exchange markets. STORY-LINE: It's been a rollercoaster ride for the value of the Egyptian pound against the US dollar, with a rapid decline since January. The National Bank of Egypt is now intervening to support the currency at its current rate of 7.63 pounds. Previously, the dollar's price had been stable at 7.14 EGP in banks. However in private exchange markets, it had risen to 7.80 EGP. Egypt's central bank has been acting to close that gap in an effort to wipe out black market trading. It operates a managed float of the pound and can influence its value by buying and selling currency at official auctions several times a week. The bank's intervention has been welcomed by some private money exchangers, like Tamer Rafee. He says: "The decision of the central bank to raise the dollar to reach its price in exchange markets is completely right. But still the black market is affecting this decision. Because it sells dollars with higher prices and buys dollars with lower prices. So what we need right now is some flexibility between both selling and buying prices in order to destroy the black market completely." The weaker pound will make some imported items more expensive. However for exporters, the lower pound should make their items more affordable to overseas buyers. Some shop owners say they have absorbed the changes and have not yet raised the price of their stock. Electronics store owner, Hassan Salama says: "At first we changed dollars from exchange markets by 7.70 or 7.80 Egyptian pounds. Banks refused to sell dollars for us at the beginning. And now the bank exchanges the dollar with 7.63 Egyptian pounds which is less by 2 percent than exchange markets. So I assume that the dollar did not increase and did not affect our products. Our prices in the store did not rise. And sometimes I decrease my profit margin to decrease prices for my products on sale." But for local mobile phone outlets, the situation is different. Many phones are imported from China and Far-Eastern countries and the cost of doing business has now increased, because of the rising US dollar and the falling Egyptian pound. "Concerning my business, all my products have been affected by the rise of the dollar price. Mobile accessories, mobiles and tablets, Chinese or Samsung brands or whatever imports have been all affected by the rise of the dollar. And hence when the dollar rises, the products rise as well." says local mobile seller, Mohamed Abdel Gawad. Luxury products like perfumes and watches have also been affected. Perfume shop owner, Hamdy Alogeil says: "We used to import 1 or 2 containers per month. But now we import one container every six months. And this is due to the rise of the dollar's price in the market ." The price of cars being imported into Egypt will also go up. Newspapers have published articles confirming the rise of car prices in 2015. This has prompted many Egyptians to buy cars now through bank instalments, instead of paying cash. Egyptian banks had refused to open accounts for car traders with dollars, and that led them to buy dollars with higher prices which influenced the car market prices. In the private exchange markets, the dollar has fallen down to 7.65 EGP which is similar to the banks price on 7.63 EGP. But the problem of black market traders remains, with some buying dollars for as much as 8 EGP. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/5e6ecac555e36175b59efcba802c82c8 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 1514 AP Archive
egypt currency
 
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egypt currency Watch my video egypt currency and learn about the Egypt's currency and how to convert Egyptian Pound (EGP) currency to Indian Rupee (INR) currency and American Dollar (USD) currency. Convert USD to EGP Currency: United States Dollar (USD), Country: United States of America, Region: North America, Currency: Egyptian Pound (EGP) Convert EGP to INR Currency: Egyptian Pound (EGP), Country: Egypt, Region: Africa, Currency: Indian Rupee (INR), Country: India, Region: Asia The Egyptian pound (Arabic: جنيه مصرى‎ Genēh Maṣri Egyptian Arabic pronunciation: [ɡeˈneː(h) ˈmɑsˤɾi] or in Alexandrian accent: Geni Maṣri [ˈɡeni ˈmɑsˤɾi]) (sign: E£ or ج.م; code: EGP) is the currency of Egypt. It is divided into 100 piastres, or ersh (قرش [ʔeɾʃ]; plural قروش [ʔʊˈɾuːʃ]; Turkish: Kuruş[2]), or 1,000 millimes (Arabic: مليم‎ [mælˈliːm]; French: Millime). egypt currency Contact: Christos Pittis website: www.christospittis.com https://www.udemy.com/u/christospittis/ twitter: https://twitter.com/CPITTIS facebook page: https://www.facebook.com/christoscpittis email: [email protected] https://www.udemy.com/u/christospittis/ YouTube: https://www.youtube.com/channel/UClqulZeiMIfgPv_LirylA0g/videos
Views: 2755 Entrepreneurship pdf
Inside Story - Can Egypt's decision to devalue currency help boost its economy?
 
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Egypt's Central Bank governor says it's a turning point in the country's economy. Devaluing its currency is one of the requirements laid out by the IMF, in order for Cairo to receive a 12 billion dollar loan. The cash-strapped government has also raised fuel prices, and plans to cut back on subsidies for consumer goods. The IMF says allowing the Egyptian pound to trade freely will attract foreign investors. But for many people it's a bitter pill to swallow. Inflation and unemployment are already high, and there are fears that the currency devaluation will cause the price of food and services to soar. The UN says more than a quarter of Egypt's population lives below the poverty line. Frustration about the rising cost of living has prompted calls for demonstrations to protest against the government's handling of the economy. Will the currency devaluation and other controversial financial reforms help the ailing economy? - Subscribe to our channel: http://aje.io/AJSubscribe - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://www.facebook.com/aljazeera - Check our website: http://www.aljazeera.com/
Views: 11401 Al Jazeera English
Al Baraka Bank issues attractive interest rates in exchange for dollars in Egypt
 
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Egypt is suffering a shortage of dollars. Forex reserves have dwindled to a low of 16.5 billion dollars covering just about three months of import needs. The Egyptian pound has been losing value throughout the year to the apparent delight of black market dealers.
Views: 374 CGTN Africa
Egypt faces crisis with a devalued currency
 
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http://www.euronews.com/ Egypt is facing a major credit crisis as its banks hold a national currency which is fast losing its value on international exchange markets. Since the ousting of the old regime, violent protests, a soaring budget deficit and a starved tourist industry have resulted in a seeping away of confidence in the Egyptian pound. And it is not only a problem of paying for imports - the Egyptian people are engaged in a daily battle to pay for the basic materials to live with a currency nobody wants. An owner of a currency exchange centre said: "Traders import from abroad and this increases the demand for the dollar, importers resort to collecting the dollar from the markets and this reduces the rate of the Egyptian currency." The government is grappling with the situation. It is seeking favourable easy payment terms for imports, hoping for an IMF loan and trying to stabilise the currency by restricting bank held foreign reserves. But it's an up hill struggle. One local trader complained that bankers say they have no dollars, but they do have them. "We would still buy them even of the dollar was worth ten pounds, because we don't know the fate of the Egyptian pound," he said. Reporting for euronews in Cairo, Mohammed Shaikhibrahim said: "Restoring confidence in the Egyptian national currency it closely dependent upon political stability, security, and the government's package of reform measures. They include such things a market surveillance and import controls all so that the Egyptian pound can eventually recover." . Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Views: 3164 euronews (in English)
Fitch hold Egypt's Foreign & local currency IDRs at B, stable outlook
 
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The average exchange rate for the Egyptian pound closed on Friday at EGP 18.60 against the US dollar in Egypt's banks, the lowest rate since the central bank floated the national currency on 3 November The dollar stood at EGP 18.85 in Egypt's central bank, 18.60 at Egypt's largest private lender CIB, and 19 at HSBC Egypt. The country's foreign reserves stood at $23 billion by the end of November.
Views: 263 CGTN Africa
Egypt's Central Bank values home currency at 8.85 pounds per dollar
 
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Egypt's Central Bank has devalued the pound to 8.85 pounds per dollar from a previous 7.73, as it tries to resolve dollar shortages. Experts say the move is necessary to spare the treasury from spending desperately needed foreign currency to prop up the Egyptian pound. Egypt, which depends heavily on imports, is facing a foreign currency crisis caused by slow capital flows from key ministries such as tourism. Last week, it lifted caps on withdrawals and deposits of foreign currencies for individuals and companies importing essential goods, while keeping them in place for other corporates. But Many Egyptians are worried that the recent devaluation would cause a surge in prices.
Views: 750 CGTN Africa
Banks reopen as Egypt continues to return to normal
 
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(20 Feb 2011) SHOTLIST 1. Wide of streets 2. Customer entering bank 3. Wide interior of bank 4. Various of people withdrawing money 5. Bank staff 6. Various of money counting machine 7. Various of customers withdrawing money from ATM (Automatic Teller Machine) machines 8. Various exteriors of bank 9. Various of customer withdrawing money 10. SOUNDBITE (Arabic) Medhat El Serafy, Bank Manager: " Our clients here are fine and we can accommodate every request from them. All local and foreign currency requests can be done with no problems." 11. Electronic screen showing currency rates 12. SOUNDBITE (Arabic) Vox pop, Mohamad Shaker, Bank Customer: "A lot of customers were affected during this period of closure. Thanks to God the banks are now open." 13. Street scene STORYLINE Banks across Egypt reopened on Sunday after an almost week-long closure triggered by massive strikes and protests in public sector financial institutions. Egyptians lined up in the early in the morning, waiting for their first chance to conduct their business since the banks closed a week earlier on order from the Central Bank. Labour unrest that surged exponentially in the days after the popular uprising that unseated Hosni Mubarak on February 12 have battered an already bruised Egyptian economy. The banks' closure, however, added a new layer to the troubles, with bankers and economists concerned that it would further undercut investor confidence in the country. The government estimates Egypt lost about 1.7 (b) billion US dollars in revenue, over half of which was in the vital tourism sector. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/72fca2c1996c34cdcbba39004d6c7cc2 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 162 AP Archive
Egypt's Central Bank lifts limits on foreign exchange transfers
 
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Egypt's central bank has lifted limits on foreign-exchange transfers, indicating that a dollar shortage that hampered economic activity is abating. The announcement allows banks to push through transactions that were capped at $100,000 shortly after the 2011 uprising. The crunch eased after the central bank floated the pound in November and Egypt secured a $12 billion International Monetary Fund loan that helped attract foreign investors. Reserves rose 9% in May from the previous month to $31.1 billion, the highest level since February 2011. The central bank had already allowed commercial lenders to repatriate dividends and eased restrictions on the use of debit and credit cards abroad. Since the float, the pound weakened by about half against the dollar, causing inflation to spike to the highest level in decades. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 255 CGTN Africa
Egypt's government to lower customs exchange rate
 
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Egypt is set to lower its customs exchange rate. The new rate will be set for one month in what's the first such drop in four months. Egypt began setting a monthly fixed customs exchange rate in January following the flotation of its pound currency in November. It has since set the rate monthly. The customs exchange is set at a rate that is slightly lower than the official exchange rate. Last November, the CBE freely floated the pound from its fixed rate against the dollar as part of a set of economic reforms. Egypt's foreign reserves edged up to $28.641 billion at the end of April from $28.5 billion at the end of March. The country's foreign reserves have been climbing since Egypt secured a $12 billion three-year loan from the International Monetary Fund in November Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 186 CGTN Africa
Egypt Central bank floats pound to 13.1 per dollar, raises lending rates
 
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Egypt's central bank has officially devalued the Egyptian pound. It now stands at 13.1 per dollar. The bank has also raised key lending rates by 300 basis points, announcing a series of measures designed to tackle a hard currency shortage and restore investor confidence in the economy. Egypt's pound has repeatedly weakened to a record in the black market in the past month, as pressure increased on the government to devalue the currency. The exchange rate will now be set by supply and demand. Egypt's economy has been undermined by political unrest since 2011. Forcing many investors and tourists to shun the country. The effects have crushed economic growth and put pressure on its foreign reserves.
Views: 413 CGTN Africa
UAE locals cash in on favourable exchange rate
 
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We've heard a lot about the doom and gloom associated with Brexit over the past week. But in the Middle East, some people have been cashing in on favorable exchange rates.
Views: 841 CGTN Africa
My favorite banknote design 100 Egyptian Pounds
 
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100 Egyptian Pounds. Featuring the Sphinx. Beautiful notes and beautiful colors. At one point the Egyptian Pound was worth so much as the British Pound.
Currency exchange in the ATM of Egypt.
 
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Обмен валюты в банкомате Египта.
Egypt Finance ministry to raise dollar rate to 17 from 15.7
 
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Egypt’s finance ministry is set to raise the customs dollar exchange rate to EGP 17 from EGP 15.7 for two weeks effective as of Thursday. Finance Minister Amr El-Garhy said the new rate would be applied starting this weekend until the end of March in line with foreign exchange rates in use at banks. In early February, the pound's official exchange rate climbed from EGP 18.5 to 15.7. In November, the CBE freely floated the pound, releasing it from a fixed rate of 8.88, as part of a set of economic reforms aimed at reviving Egypt's flagging economy. Egypt's central bank says the country's foreign reserves reached $26.54 billion by the end of February 2017, up from around $26.36 billion in January.
Views: 205 CGTN Africa
Egyptian Money
 
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This is probably the only time we will have all forms of Egyptian currency, so we thought this was the best time to show you.
Views: 10317 Frommes on a Journey
Largest banks in Egypt: AlexBank
 
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Marcopolis.net Video Interview with Roberto Vercelli, Managing Director & CEO of AlexBank. "The Bank of Alexandria is the third largest bank in the private sector. We have 180 branches all over the country, in every governorate and so we have a very strong presence all over Egypt." To read the full transcript of the MarcoPolis interview with Roberto Vercelli, Managing Director & CEO of AlexBank, visit Marcopolis.net http://www.marcopolis.net/alexbank-becoming-the-best-bank-in-egypt-for-smes.htm
Views: 419 Marcopolis Net
Expat dollar certificates aim to boost Egypt's foreign currency reserves
 
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(29 Feb 2016) LEAD IN: The Egyptian government has launched a new dollar certificate to encourage Egyptian expatriates to move their foreign currencies into the country's economy. It's an attempt to boost Egypt's dwindling foreign currency reserves which have led to record lows in black market rates for the pound. STORY-LINE: Egypt's currency is floundering. The pound has dropped to record lows on the black market in the last week, hovering between 9 and 9.25 per dollar. The problem is linked to the import market with companies relying on dollars to bring goods into the country. But foreign currency reserves have fallen drastically and businesses are struggling to find the dollars to import items. The reserves have remained at 16.5 billion dollars in recent months, having declined from 36 billion in December 2010, a month before the 2011 uprising that toppled long time autocrat Hosni Mubarak. But the government has a plan to boost that number. It has launched 'Belady' dollar certificates to encourage Egyptian expatriates to move their currency savings into the country's economy. "We announce the issue of the Egyptian dollar certificate 'Belady' for Egyptian expats through the branches of those three national banks (National Bank of Egypt, Banque du Caire, Banque Misr). Those banks are issuing such certificates in response to demands from the Egyptian expatriates to direct their savings into foreign currency to serve their country's economy," says Nabila Makram, Minister of Immigration and Egyptian Expatriate Affairs. The certificates offer interest rates of 3.5, 4.5 or 5.5 percent, depending on the maturity term. Egypt faces an uphill struggle to meet its dollar needs. "The worst thing is the balance of payment in Egypt's economy. What Egypt needs to pay to the outside world in hard currency, in the form of importing goods and services, and other commitments, like paying Egypt's debts, is much bigger than Egypt's income from foreign currencies from revenues of Suez Canal, tourism, remittances from Egyptians abroad and revenues from foreign investments in Egypt," says Magdy Sobhy, Deputy Director of Al-Ahram Center for Political and Strategic Studies. "So this critical situation will result in a drop in Egypt's exchange reserve from foreign currency and obviously will affect the value of the Egyptian currency." Egypt can no longer really on tourism to prop up its currency revenues. It has has declined sharply since unrest stemming from the 2011 toppling of Mubarak. The apparent bombing of a Russian passenger plane over the Sinai peninsula last year, claimed by the IS group, led to widespread flight cancellations, dealing a major blow to the industry, which is one of the country's main earners. Pressure is mounting on the central bank to devalue the pound. Central bank Governor Tarek Amer has said the bank would only consider floating the pound once the country shores up its foreign currency reserves to 25 billion US dollars or 30 billion US dollars. "A floating exchange rate is to allow the market mechanisms to determine the currency value against the foreign exchange market and what we see now of the pound value in the black market is considered floating the pound," says Sobhy. Egypt's official exchange rate remains at 7.83 at banks since the central bank strengthened the pound by 0.20 pounds in November, a move that came as a surprise to investors. A devaluation would cause a surge in prices for Egyptians who are needing imported goods. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/a2fe5e93a188f2f207063ba8b1622943 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 77 AP Archive
Best & Worst Places to Exchange Foreign Currency on Vacation
 
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Ever wonder where you should exchange your dollars or Euros, money, when you travel? Well here are a few tips on the best and worst places to exchange your currency while you are traveling. Filmed in Kilkenney, Ireland Copyright Mark Wolters 2017 USA Today & 10Best's #1 Independent Travel Videographer 2014 FlipKey by TripAdvisor Top 10 Travel Bloggers 2014 Our Equipment Sony Alpha a6000 Digital Camera. Great for Capturing Amazing Photos and HD Video. http://amzn.to/2bBMnWg GoPro Hero4: Digital Camera for On The Go Fun in 4K http://amzn.to/2cbYkz4 SanDisk Extreme Pro 64 GB - SD Disk: For Saving All The Video Footage Without Having to Switch Chips http://amzn.to/2bSjCE3 Video Editing Software: Sony Movie Studio 13 - Fast, Easy & Affordable to Make Great Videos at a Great Price http://amzn.to/2bBjhrF Tripod - Manfrotto Compact Travel Tripod - The Size to Travel, but the Sturdiness of a Professional Tripod http://amzn.to/2bRSVAV For More Travel Gear & Accessories Visit Our Amazon Travel Gear Shop http://astore.amazon.com/woltworl02-20 Find More Videos At: http://www.woltersworld.com Subscribe to Wolters World on YouTube! http://www.youtube.com/woltersworld Follow Us At http://www.facebook.com/woltersworld http://www.twitter.com/woltersworld http://www.instagram.com/woltersworld
Views: 20424 Wolters World
купюра 1 one pound CENTRAL BANK of Egypt / банкнота 1 фунт Египет Бонистика бумажные деньги
 
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one pound CENTRAL BANK of Egypt 1 египетский фунт, устар. лира или ливр, гинея (араб. الجنيه المصرى‎ — al-Gunayh al-Miṣrī, масри el-Genēh el-Maṣri) — денежная единица Египта. Один египетский фунт равен 100 пиастрам (араб. قرش‎ — qirsh, англ. piastre). Международное обозначение: EGP. На египетских ценниках чаще встречается иное сокращенное название фунта — L.E. (от франц. — Livre égyptienne). В денежном обращении находятся банкноты номиналом в 25 и 50 пиастров, 1, 5, 10, 20, 50, 100 и 200 фунтов; монеты в 25, 50 пиастров и 1 фунт. Банкноты в 25 и 50 пиастров, а также в 1 фунт фактически вышли из обращения, так же, как ранее вышли из обращения банкноты в 5 и 10 пиастров. На всех банкнотах изображены те или иные мечети Египта, как упоминание о том, что Египет — мусульманская страна. Цифры изображаются как в традиционном международном, так и в арабском написании Бонистика водяной знак погребальная маска Тутанхамона Читайте наш БЛОГ «Мир коллекционера» http://coinsrussia.blogspot.com/ ♥♥ Спасибо за Like и за ПОДПИСКУ на наш канал ♥♥ www.youtube.com/channel/UCFF4pt_sZdME9LFj8W1_IZw Присоединяйтесь к нам в соцсетях! ВКонтакте: http://vk.com/club46258584 Facebook: http://www.facebook.com/groups/154334... Google+: google.com/+YarkoCoinsWORLD ТВИТТЕР http://twitter.com/yarkoWorldCoins The Egyptian pound (Egyptian Arabic: جنيه مصرى‎ Genēh Maṣri [ɡeˈneː(h) ˈmɑsˤɾi]; sign: E£, ج.م; code: EGP) is the currency of Egypt. It is divided into 100 piastres, or ersh (Egyptian Arabic: قرش‎ [ʔeɾʃ]; plural قروش [ʔʊˈɾuːʃ]),[1] or 1,000 millimes (Egyptian Arabic: مليم‎ [mælˈliːm]; French: millime). The Egyptian pound is frequently abbreviated as LE or L.E., which stands for livre égyptienne (French for Egyptian pound). E£ and £E are commonly used on the internet. The name Genēh [ɡeˈneː(h)] is derived from the Guinea coin, which had almost the same value of 100 piastres at the end of the 19th century. In 1834, a khedival decree was issued, adopting an Egyptian currency based on a bimetallic standard (gold and silver) on the basis of the Maria Theresa thaler, a popular trade coin in the region.[3] The Egyptian pound, known as the geneih, was introduced, replacing the Egyptian piastre (ersh) as the chief unit of currency. The piastre continued to circulate as ​1⁄100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, and the piastre was divided into tenths (عشر القرش 'oshr el-ersh). These tenths were renamed milliemes (malleem) in 1916. The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settlement of internal transactions. Eventually this led to Egypt using a de facto gold standard between 1885 and 1914, with E£1 = 7.4375 grams pure gold. At the outbreak of World War I, the Egyptian pound was pegged to the British pound sterling at EG£0.975 per GB£1. Egypt remained part of the Sterling Area until 1962, when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of EG£1 = US$2.3. This peg was changed to 1 pound = 2.55555 dollars in 1973 when the dollar was devalued. The pound was itself devalued in 1978 to a peg of 1 pound = 1.42857 dollars (1 dollar = 0.7 pound). The pound floated in 1989. However, until 2001, the float was tightly managed by the Central Bank of Egypt and foreign exchange controls were in effect. The Central Bank of Egypt voted to end the managed-float regime and allowed the pound to float freely on 3 November 2016;[4] the bank also announced an end to foreign exchange controls that day.[5] The official rate fell twofold. The Egyptian pound was also used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an independent emirate between 1942 and 1951. The National Bank of Egypt issued banknotes for the first time on 3 April 1899. The Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt in 1961 ссылка на видео one pound CENTRAL BANK of Egypt / банкнота 1 фунт Египет https://www.youtube.com/watch?v=w5gS3xd3QRwv=w5gS3xd3QRw
Views: 1470 Yarko Coins
Egypt floats currency, paving way for IMF loan
 
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The price of gas in Egypt has risen by more than 30 percent overnight, after the government removed subsidies on car and cooking fuels. It has also floated the Egyptian pound so that it can be traded freely, as part of conditions to get a $12bn loan from the International Monetary Fund. Al Jazeera's Rob Matheson reports. - Subscribe to our channel: http://aje.io/AJSubscribe - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://www.facebook.com/aljazeera - Check our website: http://www.aljazeera.com/
Views: 3635 Al Jazeera English
Egypt central bank will retain 'total independence:' newly-appointed chief
 
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Egypt's newly-appointed central bank governor Hisham Ramez says the bank would retain 'total independence' under his leadership and that his priority is to promote transparency. "Central bank independence is essential. But this does not mean we work in isolation, there will be cooperation between us and the government because we share the same goal which is growing the economy and fulfilling the national interests," Ramez said. Ramez told Al Arabiya he wanted the central bank to be more transparent and improve communication with investors: "the priority for the central bank is transparency; we will do our best to be more transparent so that people are aware of what we are doing so we can manage expectations and the picture is clear to investors." Ramez said the bank is not targeting a specific price for the Egyptian pound but seeks to have an 'orderly' currency market where prices are driven by the market forces of supply and demand. "We do not have a certain dollar level we are targeting, our goal is to have an orderly market and Egypt in all its different stages, over the past 8 years we reached where we are today, we succeeded in solving our problems during the global financial crisis and the early days after the revolution," Ramez said. "We are very confident that the market will become orderly and balance very soon," he added. The newly-appointed central bank governor will officially take over on February 3rd. Ramez said he believes there will be 'stability very soon in the exchange rate'. "We have started seeing positive signs, there are many retail investors who have started selling the dollar, just like some people were buying the dollar, now the system is a 'two way street' there is selling and buying, supply and demand. I expect that we will reach stability in the exchange rate; I don't want to give a specific timing," Ramez said. The central bank plans to launch to buy and sell the dollar based on the market activity. "The auctions we are conducting to sell the dollar, I expect that in a short period of time we will also have auctions to buy the dollar excess from other banks, this is likely and we will see stability in the exchange rate," said Ramez.
Egypt's Central Bank hike interest rates to protect Egyptian pound
 
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Egypt's Central Bank has raised interest rates by 1.5 percentage points in its Monetary Policy Committee. An interest rate hike had been widely anticipated in the wake of a sharp devaluation of the Egyptian Pound against the US dollar earlier this week. CCTV's Yasser Hakim has been following these developments for Cairo
Views: 310 CGTN Africa
Reform of the exchange rate regime in Morocco- Episode 2
 
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الموقع الرسمي لبنك المغرب - البنك المركزي المغربي Chaîne officielle de Bank Al-Maghrib -Bank Al-Maghrib official
Views: 987 Bank Al-Maghrib
How To Use EGP Now Mobile Application
 
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"EGP Now" App will help you to get the latest exchange rate of the Egyptian pound regarding the prices of different currencies, for example: US Dollar (USD $), Euro (€ EUR), British Pound (£ GBP), UAE Dirhams (AED), Saudi Riyal (SAR), Kuwaiti Dinar (KWD), Qatari Riyal (QAR), Jordanian Dinar (JOD), Bahraini Dinar (BHD) and Omani Riyal (OMR) ... It is based on the actual updated trading rates in different banks working in the Egyptian banking sector, it includes: Central Bank of Egypt, National Bank of Egypt, Banque Misr, Banque du Caire, Bank of Alexandria, Faisal Islamic Bank, Commercial International Bank (CIB), Suez Canal Bank, Housing and Development Bank, Egyptian Gulf Bank, Credit Agricole Egypt (Credit Agricole), Banque Misr Iran Development , BLOM Bank Egypt, Arab African international Bank (AAIB), development and agricultural credit Bank, Al Baraka Bank, Abu Dhabi Islamic Bank (ADIB), Ahli Bank of Kuwait (Piraeus Bank), Qatar National Bank Al Ahli ( QNB) and HSBC... Also you can:- * Sort exchange rates by the bank’s name, Sell or Buy rate. * Get historic exchange rate for a specific date. * Currency converter. * Push Notification. * Quickly share app with your friends. * Exchange rate trend indicators (up or down colorful arrow) * Updated Gold prices in Egypt, * Bank Details and contact information, * Bank’s Branches Locator, * Bank’s Branches near GPS Location. Available free on the App Store: https://itunes.apple.com/eg/app/egp-now-aljnyh-alan/id1176496587?mt=8 Available free on the Google Play: https://play.google.com/store/apps/details?id=net.ITRoots.EGPNow For support, please contact ITRoots support team: [email protected]
Egypt toughens grip on currency to revive ailing economy
 
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Egypt is witnessing an unprecedented devaluation of its currency, with the exchange rate of the U.S. dollar once exceeding 13 Egyptian pounds on the black market. The government has closed 47 of 94 licensed currency exchange bureaus this year.
Views: 462 New China TV
Egypt devalues currency to record low against dollar
 
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(14 Mar 2016) EGYPT CURRENCY SOURCE: AP TELEVISION RESTRICTIONS: MIDDLE EAST EXTRA CLIENTS ONLY LENGTH: 1:51 AP Television Cairo, Egypt - 25 February 2016 1. Wide of Egypt's Central Bank building in Cairo 2. Close of sign at Egypt's Central Bank 3. Wide of currency exchange office 4. Mid of currency exchange office 5. Mid of currency exchange office employee counting money 6. Close of money counting machine AP Television Cairo, Egypt - 14 March 2016 7. SOUNDBITE (Arabic) Hannan Ramsis, Dealer at the Egyptian Stock Exchange: "The market has welcomed positively the move of controlling the dollar and the move has motivated new mutual funds and foreign investors to enter the market again and this was proved today by the EGX 30 benchmark index rising more than six percent and leading stocks were up today, exceeding the maximum limit of increase." 8. Wide of stock screen (all in green) 9. Close of stock screen 10. Wide of traders working 11. Exterior of Egyptian stock market 12. SOUNDBITE (Arabic) Saeed Sadek, Political Sociology Professor at Future University in Cairo: "The effect of this move in the short term could lead possibly to economic, political and social disturbance and could lead to labour strikes. But in the longer term it could lead to attracting foreign investments as the drop of the value of the currency is becoming more attractive to investors from Europe, Asia and the Gulf which would eventually improve the Egyptian economy. Especially as the Egyptian economy is attractive in its diversity from industry, agriculture, tourism and services." 13. Wide of exterior of National Bank of Egypt 14. Close of sign reading (English/ Arabic) "National Bank of Egypt" 15. Wide of exterior of Egypt Bank 16. Close of Egypt Bank sign LEADIN: Egypt's Central Bank has devalued the pound to a record low against the dollar. The move is aimed at alleviating a foreign currency shortage that had hit businesses and spurred on black market trading. STORYLINE: Markets have welcomed a move by Egypt's Central Bank to devalue the pound to 8.85 per US dollar from a previous 7.73. The record low saw the EGX 30, the Egyptian stockmarket's benchmark index, rise 6.7 percent today (Monday). Economists had said a devaluation was necessary to spare the treasury from spending badly needed foreign currency to prop up the Egyptian pound. "The market has welcomed positively the move of controlling the dollar and the move has motivated new mutual funds and foreign investors to enter the market again and this was proved today by the EGX 30 benchmark index rising more than six percent and leading stocks were up today, exceeding the maximum limit of increase," says Hannan Ramsis, a dealer at the Egyptian Stock Exchange. But some Egyptians are worried that the move will cause a surge in prices, especially for the multitude of imported goods. This would deal another blow to a population that is already dealing with an under performing economy that has yet to recover from years of turmoil since the 2011 ousting of longtime autocrat Hosni Mubarak. "The effect of this move in the short term could lead possibly to economic, political and social disturbance and could lead to labour strikes," says Saeed Sadek, Political Sociology Professor at Future University in Cairo. "But in the longer term it could lead to attracting foreign investments as the drop of the value of the currency is becoming more attractive to investors from Europe, Asia and the Gulf which would eventually improve the Egyptian economy. Especially as the Egyptian economy is attractive in its diversity from industry, agriculture, tourism and services." The deposit and withdrawal limits have since been lifted. =========================================================== You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/ae4b656debd93b7e5140089f07c07ec1 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 148 AP Archive
Egypt Central bank raises key interest rates by 200 basis points
 
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Egypt's central bank has raised its key interest rates by 200 basis points, confounding expectations of economists who did not expect any change. The bank hiked its overnight deposit rate to 16% from 14% at a meeting of its Monetary Policy Committee over the weekend. This was the bank's first increase in rates since it aggressively hiked them by 300 basis points in November. Inflation has soared to a three-decade high since the country floated its currency with annual urban inflation reaching 31.5 % in April. The IMF has said that lowering inflation is key to keeping Egypt's economic reform programme on track. As early as last week, the lender said that raising key interest rates could be an appropriate tool to rein in inflation. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 222 CGTN Africa
Egyptian pound weakens to record lows vs dollar on balck market
 
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The Egyptian pound fell to an unprecedented low on the black market on Monday, as hard currency demand rises in the dollar-starved economy. The Egyptian unit traded at 10 pounds per dollar compared to around 9.8 pounds last week. The country is still suffering a foreign currency shortage despite government decisions to devalue the pound and raising caps for dollar deposits and withdrawals. The situation has led the country's second largest bank, Banque Misr, to approach foreign financial institutions for a 300 million euro syndicated loan to shore up its reserves. Egypt's three state banks, Banque Misr, the National Bank of Egypt, and Banque du Caire began offering dollar denominated certificates of deposits with attractive yields to Egyptians living abroad to increase their dollar resources.
Views: 806 CGTN Africa
Stock markets open as Egypt's currency falls to a new low
 
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1. Wide exterior of Egyptian stock market building 2. Close of sign reading (Arabic) "Egyptian Stock Market" 3. Wide of dealing room at stock market 4. Close of electronic board showing price of different stocks 5. Mid of group of dealers working at their desks 6. Close of woman working on her computer 7. SOUNDBITE (Arabic) Mansour Abedl Hady, Trader: "At the start of the new year, in the first half-hour of trading, the amount in circulation passed 100 (m) million and the main index rose around 1.5 percent. Almost all stocks are seeing a noticeable rise in value" 8. SOUNDBITE: (Arabic) Naglaa Farrag, Trader: "There is an increase in demand on bonds in dollars even though this reflects the poor economy, but it is a good thing for the stock market because it attracts foreign investors." 9. Exterior of currency exchange shop 10. Wide of people in shop 11. Mid of workers in shop counting money 12. Close of machine counting money 13. Close of bundles of Egyptian pounds 14. Mid of board showing various currency prices 15. Close of price of dollar, euro, sterling and Canadian dollar 16. SOUNDBITE (Arabic) Sabry Mohamed, Manager of currency exchange shop: "The demand on the dollar is greater than the supply. For example, if one person comes in to sell 200 dollars, there are three others who each want to buy 200 dollars, so I have to split the 200 dollars between the three of them." 17. Exterior of Egyptian central bank 18. Close of sign reading (Arabic): "Central Bank of Egypt" 19. SOUNDBITE (Arabic) Vox pop, Saleh El Derbashy, Cairo resident: "We are in the era of the dollar. If the dollar is available, it means stability. If the dollar is not available, it brings instability." 20. Exterior of Bank of Egypt 21. Close of sign reading (Arabic) "Bank of Egypt" 22. Various of woman withdrawing money from cash machine STORYLINE: Shares rose about 1.5 percent on the Egyptian stock market on Wednesday, days after the Egyptian pound fell to a record low against the US dollar. The pound has plunged against the dollar on the first two days of trading under a new system, leading the president to try to assure a worried public that the crisis atmosphere will end soon. "At the start of the new year, in the first half-hour of trading, the amount in circulation passed 100 (m) million and the main index rose around 1.5 percent," trader Mansour Abedl Hady told the Associated Press. "Almost all stocks are seeing a noticeable rise in value." "There is an increase in demand on bonds in dollars even though this reflects the poor economy, but it is a good thing for the stock market because it attracts foreign investors," said fellow trader Naglaa Farrag. The Egyptian pound slid nearly 1 percent on Monday from the previous day, bringing the exchange rate at banks to 6.42 pounds to the dollar. It marked a cumulative loss of nearly 4 percent this week, after Egypt's central bank took steps in what bankers believe is an attempt to control the devaluation of the currency. In an effort to instil confidence among people who have been rushing to sell Egyptian pounds for dollars, President Mohammed Morsi said on Monday that the pound's fall "does not worry or scare us, and matters will balance out within a matter of days". His remarks to Arab journalists, carried by the official news agency MENA, came as Egypt grapples with a crippling deficit that the planning minister has said is likely to reach 200 (b) billion Egyptian pounds (31.5 (b) billion US dollars) by mid-2013. In Cairo on Wednesday, however, the manager of one currency-exchange bureau, said that demand for US dollars remains greater than the supply. Under the auction, banks bid for dollars and know how much the central bank is selling that day. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/de9cc47b090c959978fcaedd88dbf54b Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 307 AP Archive
Egypt's pound strengthens as demand for dollars by importers eases
 
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Egypt pound has strengthened slightly at banks as demand for dollars slightly goes down. A dollar was being exchanged for around 18 pounds down from around 19 a week ago at most banks. This also saw banks paying clients around 17.8 per dollar. Most banks have been raising prices to attract dollar inflow due to a low dollar request from many clients, but the demand increased since the past one week. While banks are prioritizing imports of essential goods, private individuals are forced to bu… READ MORE : http://www.africanews.com/2017/01/09/egypt-s-pound-strengthens-as-demand-for-dollars-by-importers-eases Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa. Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews Africanews is available in English and French. Website : www.africanews.com Facebook : https://www.facebook.com/africanews.channel/ Twitter : https://twitter.com/africanews
Views: 284 africanews
My Egyptian Pound Collection
 
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These 9 banknotes is an Egyptian Pound Currency, I love it because it has an issue date on it, So I collected it all. Influenced by this video: https://www.youtube.com/watch?v=A4WkpJGcdXI Mobile: Samsung C7 Pro Recording Date: 27th August Music: Retrovision-Puzzle
Views: 321 Hap Archery
HOW I GOT RUSSIAN CURRENCY (Ruble) & LOCAL SIM IN RUSSIA ?
 
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How to get Russia visa - http://www.touristhelpline.com/how-i-got-russian-tourist-visa/ SUBSCRIBE - https://goo.gl/dEtSMJ (‘MountainTrekker’) Previous video - https://youtu.be/8yD8ENUDe1A Next video - https://youtu.be/ZD12D7VRN0o This is the first day of my Russian trip. I am in Omsk. In this video, you can see how to get a tourist sim in Russia. Also, you will come to know how to get Russian Ruble. Instead of using a money exchanger I used an ATM which had its services available in English. Surprisingly, I got an excellent exchange rate by using the ATM. I have shared the ATM's receipt and the SMS I got from my Indian bank in the video. I don't know this happened because of the Indian bank or it was a special feature of the Russian bank which owns the ATM. I can recommend this bank's ATM to every traveller as it gives a better exchange rate. In this video, there is a query about a free offer provided by the mobile operator. Watch it and reply in the comments section. If you have any other query feel free to ask at - www.facebook.com/groups/touristhelpline (It may not be possible for me to answer each and every query here, but other group members, travellers, and travel experts can help you) Other travel series - # THAILAND playlist - https://goo.gl/dOUJck # EUROPE Playlist - https://goo.gl/Tlx9mJ # BANGLADESH playlist - https://goo.gl/uw1y1v # SPITI (India) playlist - https://goo.gl/xqvvQ6 # MALAYSIA playlist - https://goo.gl/2a3doK # RUSSIA playlist - https://goo.gl/BB54T4 PLEASE SHARE THE VIDEOS AND LET OTHERS GET INFORMED ABOUT THIS CHANNEL My blog: www.touristhelpline.com INSTAGRAM.com/varunvagish FACEBOOK.com/page.mountaintrekker TWITTER.com/mttrekkerindia Subtitles Credit : ZARA SNA
Views: 355917 MOUNTAIN TREKKER
Egypt’s Monetary Policy Committee raises benchmark interest rate by 0.5%
 
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Egypt’s Monetary Policy Committee has raised its policy rate by 50 basis points, just a week after it shocked markets by leaving the very same rates, unchanged. Citing inflationary pressure, the Monetary Policy Committee raised the overnight deposit rate to 9.25% and the overnight lending rate to 10.25%. Urban consumer inflation rose to 11.1% at the end of November - the highest level in five months. This surprise rate hike is the first under the new Central Bank Governor Tarek Amer, who has led a drive to indirectly support the Egyptian pound and supply banks with dollar liquidity to cover imports despite dwindling foreign reserves.
Views: 120 CGTN Africa
Egypt will allow its currency to float freely
 
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Egypt will float its currency in a move that is expected to see it fall by almost 50% against the dollar. The price is expected to see one US dollar buying 13 Egyptian pounds, up from the nine Egyptian pounds the central bank was trying to keep it at. The country's central bank said the move was one of a list of reforms designed to strengthen confidence in the economy. Egypt's main stock index jumped by more than 8% on Thursday. The central bank has also increased interest rates by 3 percentage points to 14.75%. The move is a key requirement of the International Monetary Fund (IMF), from which Egypt is asking for a $12bn loan over three years. Hardship Although the liberalisation should help the country to strengthen its economy, it will make life harder for Egyptians and the cost of all imported goods will rise sharply. Another reform it is facing is reducing or removing altogether state subsidies on fuel to meet IMF conditions. It has already cut subsidies on household electricity and increased the price of sugar by 40% for some Egyptians. Egypt imports about a third of its sugar needs but a shortage of hard currency has meant traders have struggled to buy from outside the country. The military has been told to distribute a one-off package of basic food items, including sugar, at half price, to cushion the effect among the poorest. Egypt has struggled to attract foreign investment since the political turmoil in 2011 during the so-called Arab Spring that saw former president Hosni Mubarak overthrown. The change of regime dented tourism numbers, one of Egypt's most important foreign currency earners, and prompted a general fall in international investor confidence. The decline in hard currency income was exacerbated by the central bank's efforts to prop up Egypt's own currency. It was trying to hold it at the official rate of 8.88 Egyptian pounds, although on the black market dealers could buy far more Egyptian pounds. Value The bank said in a statement it had moved to a "liberalised exchange rate... to create an environment for a reliable and sustainable supply of foreign currency". A central bank auction of dollars will be held later on Thursday, allowing supply and demand to determine the value of the pound for the first time in decades. Banks will be allowed to open their branches until 9pm and over the weekend to allow more transactions. Egypt's economy is the second largest in the Arab world, after Saudi Arabia.
Views: 470 USA Breaking NEWS
Currency Exchange Rate Comparisons - Philippines
 
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"Should You Buy A Condo in the Philippines?".. https://www.youtube.com/watch?v=tk034W7sIfA AirBnb Rental Listings.. http://bit.ly/airbnb-reekay Loctote Bags.. http://bit.ly/reekayloctotebag PH Bachelor's video series; http://www.philippinesbachelor.com Private Consult w/Reekay.. http://bit.ly/reekayfacetimeconsult My MP3 Audio-Series.. http://bit.ly/ReekaysTravelMP3s Need A Fiancee' Visa? http://www.filipina-expat-visa4you.com Music: http://www.purple-planet.com (intro) and Jason Shaw (big blues bed). ___ About Me.. After 49 years living in Southern California, USA, I decided to move to the Philippines despite never having been here before. I spent a year getting all the information I could online and in July, 2012, I took a leap of faith and transplanted myself first to Mactan and then began my trek through Cebu, Bohol, Panglao, Moalboal, Dumaguete, Bacong and now living in Cebu City, here in the amazing Philippines. I am a single man taking an honest look at all that the Philippines has to offer, one day at a time. I hope you find my channel informative and/or entertaining. :) I hope you will make use of the links I provide as they help to support some of the costs of making this channel possible. Thanks! -- Reekay
All Banknotes of Egyptian pound - 50 Piastres to 200 Pounds - 1994 to 2014 Issue in HD
 
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Here in this video you can see all Banknotes of Egyptian pound - 50 Piastres to 200 Pounds - 1994 to 2014 Issue in HD. I have filmed many different videos of coins and banknotes. On my YouTube-Channel you can see this and many more things. Feel free to visit: https://www.youtube.com/user/MKROXTON
Views: 2552 MKROXTON
Egypt issues diaspora dollar bonds to fix forex deficit
 
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Egypt has announced plans to issue dollar bond certificates to its citizens living in the diaspora. The bonds will be issued online or through overseas branches of the country's state owned banks; the National Bank of Egypt, Banque du Caire and Misr bank. The government is trying to attract dollars into Egypt to help overcome it currency crisis.
Views: 235 CGTN Africa
Egypt's Central Bank leaves key interest rates unchanged
 
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Egypt's central bank has kept its key interest rates unchanged at a meeting of its Monetary Policy Committee. The overnight deposit rate remains at 14.75 percent and the overnight lending rate at 15.75 percent. A Reuters poll earlier in the week showed that the rates would remain constant until the impact of last month's hike in borrowing costs on inflation becomes clearer. Egypt's central bank ditched its foreign exchange peg of 8.8 pounds per dollar and hiked interest rates by 300 basis points to help stabilise the newly floated currency. The pound has since weakened to around 19 per dollar
Views: 119 CGTN Africa
Egypt's successful crackdown on the black market dollar
 
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Egypt's central bank has been cracking down on the black market over the last few months, to help balance the local currency. The currency black market, which has been a thorn in the side of successive governments, has virtually disappeared in the past two months following the crackdown. CCTV's Yasser Hakim looks at how Egypt managed to contain the dollar's black market
Views: 382 CGTN Africa
Egypt Central Bank governor resigns
 
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Egyptian Central Bank governor Hesham Ramez has resigned from his post...deciding not to seek another term in office. Mr Ramez has been praised for navigating the Egyptian economy through recent political instability. As Yasser Hakim reports, his successor, Tarek Amer also takes over at a challenging time..with the nation's currency experiencing significant deflation
Views: 174 CGTN Africa
Central banks focus, Egypt devalues | FT Market Minute
 
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► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs Katie Martin, deputy editor of fastFT, tells us what’s catching her eye in the markets today, including expectations about a string of central bank decisions this week, eurozone bond prices picking up and Egypt’s devaluation of its currency. For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
Views: 506 Financial Times
Egyptian Central Bank raises Interest rates to tame Inflation
 
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Egypt's Central Bank, has officially raised, benchmark interest-rates. This in a bid to hold down inflation just two weeks, after the government, slashed subsidies, on fuel and electricity. The Central Bank raised the overnight deposit-rate, to 9.25 percent and the lending-rate to 10.25 percent. According to the bank, the hike is necessary, to be able to tame-inflation in order to limit a generalized price increase of goods.
Views: 174 CGTN Africa
Al Mulla Exchange Partner Banks
 
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Check out Al Mulla Exchange partner banks in Bangladesh, Egypt, India, Pakistan and Philippines
Views: 168 Al Mulla Exchange
Egyptian gold rush as banks reopen
 
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Banks across Egypt opened for a few hours Sunday morning for the first time in more than a week. The Central Bank used military cargo plans to supply branches with than 600 million euros worth of cash. In Cairo's business district people were queuing way before doors opened. But limits were placed on withdrawals of Egyptian pounds and foreign currencies to prevent a run on funds. And many banks and businesses did not open at all. Despite that, one man remained defiant. ... http://www.euronews.net/
IMF welcomes flexible forex policy by Nigeria's central bank
 
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The International Monetary Fund (IMF) has welcomed the Nigerian Central Bank's decision to abandon its currency peg for a more flexible exchange rate policy. The international money lender says the development is important to reduce fiscal and external imbalances. Nigeria's Central Bank earlier this week announced the introduction of a new system (from June 20) which will lead to a significant devaluation of the naira which for 6 months had been pegged at 197 to a dollar. #IMF welcomes #N… READ MORE : http://www.africanews.com/2016/06/17/imf-welcomes-flexible-forex-policy-by-nigeria-s-central-bank Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa. Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews Africanews is available in English and French. Website : www.africanews.com Facebook : https://www.facebook.com/africanews.channel/ Twitter : https://twitter.com/africanews
Views: 225 africanews

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