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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Bank "of America" ​​pays tribute to an increase of foreign reserves

    Rocky
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    Bank "of America" ​​pays tribute to an increase of foreign reserves Empty Bank "of America" ​​pays tribute to an increase of foreign reserves

    Post by Rocky Sun 19 Feb 2017, 7:11 am

    [size=30]Bank "of America" ​​pays tribute to an increase of foreign reserves[/size]
    19/02/2017 03:56 | Number of Views: 6
    font size: Bank "of America" ​​pays tribute to an increase of foreign reserves Font_decrease Bank "of America" ​​pays tribute to an increase of foreign reserves Font_enlarge
    Bank "of America" ​​pays tribute to an increase of foreign reserves Thumbnail.php?file=______________813740508
    Direction Press / Agencies 
    Said the bank "Of America-Merrill Lynch" low yield on Egyptian treasury bills, an indication of increased foreign participation in investment in Egypt, supports the high exchange rate of the pound against the dollar, according to a report issued by the bank in English.



    The decline in the average yield on Egyptian treasury bills for six months and 12 months in the recent bidding for between 240 and 280 basis points (2.4% - 2.8%) at a level of 17.7%. The US dollar also fell against the pound, near the level of 16 pounds to the dollar compared to 20 pounds in December.
    The report pointed out that the announcement is official from the central bank, the completion of the transfer of accumulated profits of foreign investors, is the main driver behind the bank to cancel a downward risk factors for the Egyptian economy in the near term.



    He said the bank "Of America-Merrill Lynch" in his report, that the Central Bank of Egypt accumulate foreign reserves, likely to repeat the success of a scenario to reduce the pound in 2003, which led to a reduction of non-oil trade deficit due to increased competitiveness.



    Jumped the foreign reserves of more than two billion dollars last month, up to $ 26.4 billion, the highest level since the 2011 end of January, and in spite of the payment of the Central Bank of $ 750 million to the Paris Club countries and $ 250 million to Libya and obligations of the company "Eni" Italian, according to the report.



    Egypt's central bank said in an official statement last week that foreigners pumped new investments in bills of Government Treasury for the third month in a row, following the liberation of the Egyptian pound exchange rate decision, net inflows during the month of January 11.5 billion Egyptian pounds during the month of January 2017, compared with 2.4 billion pounds and 6.8 billion pounds in December and November 2016, respectively.



    The report of the bank, "Of America-Merrill Lynch" to the completion of the first periodic review of the program of the International Monetary Fund in February and March, likely "a positive review based on specific end-December targets, which would allow access to funding worth $ 1.25 billion from IMF ".



    The report went on: "The important role in the audit side, in the audit of the financial goals in light of the decline in the pound-dollar exchange rate lower levels than Mtoukaa- as the program assumes that the exchange rate ranges between 12-14 pounds to the dollar. This would, in our view that reduces the risk of slipping reformist. " 

    http://aletejahtv.org/permalink/151736.html

      Current date/time is Tue 19 Mar 2024, 12:27 am