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This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. 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 ...
July 18 – Egypt's Suez Canal reported a 23.4 percent drop in revenues attributed to disruptions in Red Sea shipping over the past year, marked by attacks from Yemen's Houthi militia on Israeli-linked vessels.
During the period from 2014 to 2024, Egypt's total external debt doubled. The total external debt amounted to about US$165.4 billion by the end of the first quarter of 2023. The Central Bank of Egypt revealed that the value of Egypt's external debts due for repayment was equal to about US$29.229 billion during 2024. [8] [9]
The piastre was based on the Turkish kuruş, introduced while Egypt was part of the Ottoman Empire. As in Turkey, debasement lead to the piastre falling significantly in value. In 1834, the pound, or gineih (Arabic), was introduced as the chief unit of currency, worth 100 piastre. The piastre continues in use to the present day as a subdivision ...
But the rise of technology has led to an evolved "black market" -- and rather than exotic animals and tangible exports, data like credit card information and even streaming accounts are up for grabs.
The origins of Egypt's stock exchange can be traced back to 1883 with the establishment of the first futures market in Alexandria. By 1899, under the rule of Khedive Abbas II, the exchange relocated to a new premises on Muhammad Ali Square, today known as El Manshiyya. In 1902, the Brokers' Syndicate was formed, setting the initial regulations ...
Change in per capita GDP of Egypt, 1820–2018. Figures are inflation-adjusted to 2011 International dollars. From the 1850s until the 1930s, Egypt's economy was heavily reliant on long-staple cotton, introduced in the mid-1820s during the reign of Muhammad Ali (1805–49) and made possible by the switch from basin irrigation to perennial, modern irrigation. [25]
EGX 30 index value is calculated in local currency terms and denominated in US dollars since 1998. EGX started publishing its dollar denominated index on 1st of March 2009. EGX 30 index includes the top 30 companies in terms of liquidity and activity. EGX 30 Index is weighted by market capitalization and adjusted by the free float.