#foreigncurrency

[enterprisewired]

Egypt’s Currency Shift: A New Chapter Unfolds

Steady Pound After Flexibility Announcement

Egypt’s currency, the pound, maintained stability on Thursday following the central bank’s decision to let the currency plunge and transition to a more flexible exchange rate system. The move came as part of a broader economic strategy, securing an expanded $8 billion program with the International Monetary Fund (IMF). Despite the de-facto devaluation and a significant interest rate hike, the pound held within the range of 49.5 to the dollar.

Shift to a Flexible Exchange Rate System

The central bank’s shift to a more flexible exchange rate system, a longstanding demand from the IMF, is aimed at restoring investor confidence in Egypt’s currency, which has grappled with a foreign currency shortage over the past two years. The shortage has impacted local businesses, causing delays in commodity payments and backlogs at ports.

Challenges and Investor Reaction

Despite assurances from Prime Minister Mostafa Madbouly about planned deals to ensure liquidity and stabilize prices, Egypt’s international bonds faced declines. The 2033 note dropped 1.62 cents on the dollar to 81.81 cents, reflecting investor uncertainty. Egypt’s sovereign bond prices, after an initial surge on Wednesday, were trading at early March levels.

IMF’s Role and Structural Reforms

The IMF played a pivotal role by agreeing to add $5 billion to its existing $3 billion loan program with Egypt. The funds are contingent on Egypt undertaking structural reforms to stabilize prices, manage its debt burden, and foster private-sector growth. The IMF emphasized the need for a sustainable and unified exchange rate determined by the market.

Governor’s Assurance and Downward Track for Interest Rates

Central bank governor Hassan Abdalla addressed concerns about the black market and lack of trust in the financial system, referring to it as a “disease.” He assured reporters that Egypt had sufficient reserves to fulfill its obligations. Abdalla also mentioned the central bank’s ability to intervene if excess volatility occurs. Following a 600 basis point hike, Egyptian interest rates, traditionally high, are now set on a “downward track.”

Broader Economic Developments and Challenges

The pound’s devaluation aligns with Egypt’s recent investment deal with the Emirati sovereign fund ADQ, bringing in $24 billion for the development of a prime Mediterranean coastline. However, challenges persist, including attacks on Red Sea shipping and the ongoing conflict in Gaza, impacting tourism and Suez Canal traffic—vital sources of hard currency. Remittances from Egyptians working abroad, a significant source of foreign currency, have slowed, prompting the government to take a firm stance against traders operating outside the banking system.

As Egypt navigates this significant economic shift, both domestic and international factors will play a crucial role in determining the success of the new exchange rate system and broader economic reforms.

Also Read: Cryptocurrency Markets Experience Marginal Uptick Amid Liquidations and Market Predictions

#egypteconomy #currencyshift #IMFProgram #economics #InvestorConfidence #foreigncurrency #structuralreforms #CentralBanks

[companiesnext19]

FC-TRS is an RBI-mandated online reporting system for foreign currency transactions involving share transfers between Indian residents and non-residents. Compliance involves timely filing of Form FC-TRS via the FIRMS portal, ensuring accurate documentation and adherence to regulatory guidelines to avoid penalties.

#FC-TRS #ForeignCurrency #FinancialRegulations #Compliance #AntiMoneyLaundering #FinancialTransactions #RegulatoryCompliance #Transparency #FinancialSecurity #InternationalFinance

[wnewsguru]

विदेशी मुद्रा भंडार: 11 माह के आयात के लिए पर्याप्त भंडार

नीति आयोग के पूर्व उपाध्यक्ष राजीव कुमार ने चालू वित्त वर्ष में देश की आर्थिक वृद्धि दर 6.5 फीसदी रहने का अनुमान जताया। उन्होंने सोमवार को कहा, प्रधानमंत्री नरेंद्र मोदी के नेतृत्व वाली सरकार ने 9 साल में जो सुधार किए हैं, उससे देश की व्यापक आर्थिक स्थिति को फायदा हो रहा है। कुमार ने … Read more

#ForexReserves #ImportCoverage #EconomicStability #ForeignCurrency #ReserveStrength #ImportSecurity #FinancialSafety #EconomicResilience #TradeBalance #AdequateReserves

[forexexchangeagent]

Best Place to Buy Foreign Currency Online India

Planning your dream international trip? Don't forget to stock up on foreign currency notes! With Fire Forex, you can easily buy other countries currency. Our wide range of options makes us the best choice for all your currency exchange needs. Don't get caught unprepared abroad – trust Fire Forex to provide you with the convenience and peace of mind you deserve. Start your journey right by securing your foreign currency notes with us today!

#fireforex #currencyexchangeneeds #currencyexchange #foreigncurrency #internationaltrip #foreigncurrencynotes

[theindiareview]

#conversionrate #Customsexchangerate #export-import #foreigncurrency

[mumineenexpo]

Adding to your convenience, Al Muzaini launched its Foreign Currency Delivery Service. Order select foreign currencies via the Al Muzaini website or the Al Muzaini app under FX Booking, choose your denominations and the time slot you prefer to receive the order and have it delivered to your doorstep anywhere in Kuwait within hours.* *Terms and conditions apply. Al Muzaini, always near you! #almuzaini #almuzainiexchange #muzainiexchange #moneytransfers #moneyexchange #foreigncurrency #forex #fxbooking #muzainiapp #muzainionline #anywhere #anytime #kuwait (at Kuwait) https://www.instagram.com/p/CmtRV_PsWvQ/?igshid=NGJjMDIxMWI=

#almuzaini #almuzainiexchange #muzainiexchange #moneytransfers #moneyexchange #foreigncurrency #forex #fxbooking #muzainiapp #muzainionline #anywhere #anytime #kuwait

[its-dawns-blog-blog]

#exchanging 💴 #foreigncurrency then 🐾👣#murrayhill https://www.instagram.com/p/BF8zWbRCuXe/?igshid=NGJjMDIxMWI=

#exchanging #foreigncurrency #murrayhill

[ranveern]

Sell your foreign money at the live rates in Chandigarh when you return from foreign countries. Sell foreign currency and get the amount in Indian rupees immediately at the best exchange rate with lower margins and no hidden fees. Approach the finest currency exchange service provider and sell your forex at the right place to make a profit. Log on to our website or download the Orient Exchange app for seamless online services.

#orientexchange #currencyexchange #foreigncurrency

[miamibeachbroker]

💰💡 Unlocking Homebuying Insights: Foreign Currency in Real Estate! 🏡🌎 Did you know? Foreign currency can be a valuable resource for your home purchase journey! 💼💫 You can use it towards your down payment, closing costs, and reserves. Just remember, the funds need to be converted to US currency. Let's explore this smart financial strategy together! 🌐🏠 #RealEstateInsights #ForeignCurrency #SmartHomebuying #UnlockYourDreamHome

[newswireml]

Adani has $2 bn foreign-currency bonds coming up for repayment in 2024#Adani #foreigncurrency #bonds #coming #repayment

The Adani group, whose mostly debt-fueled breakneck expansion saw gross debt doubling in four years, has almost USD 2 billion worth of foreign-currency bonds coming up for repayment in 2024, according to a presentation the conglomerate made to investors. The apples-to-airport conglomerate borrowed over USD 10 billion in foreign currency bonds between July 2015 and 2022 across group companies. Of…

View On WordPress

[remitanalyst]

Best Ways to Carry Foreign Currency on an international trip : Even though Covid-19 is still a threat, Monkeypox is a new global threat, and the Indian rupee is falling against the dollar, many Indians are still going abroad. No matter what, you need to figure out how much money to bring before you travel. And, what's more important, how you should carry that money.

Read More : https://remitanalyst.com/blogs/92-carry-foreign-currency-international-trip

#ForeignCurrency #InternationalTrip #ForexCards #CurrencyCard #MoneyApps #remitanalyst

[osakagroup]

Osaka Group will help you to get UK ALL CATEGORIES VISA application, submission & appointment. For more information: 📲 [phone] 📲 [phone] 📧 [email protected] 🌐 www.osakaair.com #osakagroup #osakaairtravels #osakaconnect #RepatriationFlights #usa #canada #uk #europe #australia #newzealand #fareast #middleeast #nz #aus #cok #africa #ukbusiness #ukvisa #ireland #ukflight #BookAirTicketOnline #AirTicketing #india #visaassistance #travel #flights #EvacuationFlights #booknow #dublinticket #foreigncurrency #foreignexchange

[companiesnext19]

FC-TRS mandates reporting of foreign currency transactions to combat financial crimes and ensure transparency. Applicable to banks and businesses, it requires detailed transaction information. Despite challenges, compliance through technology and training fosters a secure financial ecosystem

#FC-TRS #ForeignCurrency #FinancialRegulations #Compliance #AntiMoneyLaundering #FinancialTransactions #RegulatoryCompliance #Transparency #FinancialSecurity #InternationalFinance

[followme2021]

我做了9年交易，单纯依靠技术指标就能赚大钱？

前几天看到一个很有意思的问题：做外汇交易依靠技术指标是否能稳定盈利？所以我打算就这个问题谈谈。

我觉得单纯靠技术指标去预测市场，从交易逻辑上就是有问题的，大多数技术指标本质上就是靠一套固定的公式，想稳定获利很难。而且大部分的技术指标都是有滞后性，实际参考意义不大。

即使有些技术指标真的非常完美，能够准确预测市场，但是它的时效性不是长久性，甚至很快会失效。我举个例子：大家都知道交易市场里永远是少部分人赚钱，如果有一套指标能够准确地预测市场行情，那么相信很快会被市场注意到，大部分人都能赚到钱。可是大部分人赚钱的市场存在么？显然是不存在的。

我是做波段行情的，算是趋势交易。我的交易逻辑就是：截断止损，让利润奔跑。这句话相信大部分人都看过，趋势交易策略也是市场里比较认可的策略。

但是我还是做得不到位，最近半年的资金曲线一直陷入震荡中。我通过复盘总结的原因有两个方面：

1、在趋势行情后震荡走势中试错订单多，亏损多，导致趋势中的利润不断被消耗。

2、趋势行情中，出场做得不到位，没有做到很好的交易闭环。在一波行情中没有拿到足够的利润，导致盈亏比不高，资金曲线方面就是一直在震荡。

解决办法也很简单：减少亏损，添加过滤条件，在一波趋势订单完成后，尽量远离市场。

那么为什么市场里大部分的人还是亏损呢。记得从网上看到过一句话，大概是这样说的：“大部分人都是急功近利的，他们会不停地去尝试别的交易策略，去不断地寻找交易圣杯。他们等不到趋势交易策略的盈利期到来，这些人恰恰很容易被市场收割”。

总结来说就是没有完美的指标，不要迷恋技术指标，也没有完美的交易策略。在交易中最大敌人就是你自己，只有足够的毅力和耐心以及信心，才能坚定地执行策略。

#外汇 #外汇交易 #followme #Foreigncurrency

[forexexchangeagent]

Buy Forex Online in Delhi | Buy Other Countries Currency | Foreign Currency Buy Online

Do you want to buy other countries currency for your international trip? If yes, then Fire Forex is the best option for you. Select your preferred currency, or buy forex at the best exchange rate. Visit our website now!

#fireforex #buyforex #currency #foreigncurrency #buynotes #buyonline

[maheshls]

The Orient Exchange is Selling and Buying Foreign Currency and Forex card in Belgaum You can get Foreign Currency and Forex Card at the best rate in the market, Those who are traveling abroad for the various purpose of leisure, education, immigration, and employment, So visit our branch or our Online Website.

#orientexchange #foreigncurrency #travelcard #buyforex #foreignexchange