Egypt’s central bank governor worries business leaders
By the AFREEQUE newsroom, based on Africa Intelligence
The governor of Egypt’s central bank worries business leaders, according to Africa Intelligence.
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Egyptian pound falls to 55.35 to the dollar
The Egyptian pound reached 55.35 to the dollar, a new record low, according to Central Bank of Egypt Governor Hassan Abdalla. He defended the flexible exchange-rate regime and said the fluctuations were normal in response to regional and global economic developments, Egypt Independent reports.
🇪🇬 Egypt · Source: Egypt Independent ·
Nigerian banking system liquidity rises by N1.13 trillion
Liquidity in the Nigerian banking system rose by N1.13 trillion in a week, to N8.505 trillion, despite the Central Bank’s operations. According to the FMDA, the central bank withdrew N5.667 trillion through two OMO auctions.
🇳🇬 Nigeria · Source: Business Day Nigeria ·
Egypt’s central bank raises rates by one point to 21%
The Central Bank of Egypt has raised its key rates by one percentage point, taking the overnight deposit rate to 20%, the lending rate to 21% and the rates for main operations and discount to 20.5%, according to Tunisia Online and Financial Afrik. The institution says it aims to contain inflation expectations amid inflationary risks, economic uncertainty and pressure on the pound against the dollar, Tunisia Online reports.
🇪🇬 Egypt · Source: Tunisia Online ·
Mopco receives notification of 33% reduction in natural gas supplies
Mopco, an Egyptian fertiliser producer, has received a notification announcing a 33% reduction in its natural gas supplies. The reduction directly affects the gas volumes used in its industrial operations, according to the Egyptian fertiliser producer.
🇪🇬 Egypt · Source: Hapi Journal ·
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The week in Africa
This week’s highlights
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