News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
23
o
Mount Lebanon
23
o
Metn
23
o
Keserwan
23
o
North
27
o
South
21
o
Bekaa
23
o
Live
Video
Audio
Schedule
shows
العربية
watching now
2:30pm news
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
23
o
Mount Lebanon
23
o
Metn
23
o
Keserwan
23
o
North
27
o
South
21
o
Bekaa
23
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Egypt to set 2016-17 budget at devalued exchange rate
Breaking Headlines
2016-02-08 | 03:12
High views
Share
Share
2
min
Egypt to set 2016-17 budget at devalued exchange rate
Egypt is preparing its 2016-2017 budget on the basis of an exchange rate of 8.25 Egyptian pounds to the dollar, as compared to 7.75 pounds the previous year, two government sources told Reuters on Monday.
The most populous Arab state, which depends on imports for its food and energy, is facing a foreign currency crisis and authorities are under increasing pressure to devalue the pound.
The proposed value of the pound in the budget being drafted indicates the Central Bank of Egypt is planning to devalue the pound from the official rate of 7.7301 to the dollar. The CBE could not immediately be reached for comment.
"The government has begun preparing the state budget in accordance to an exchange rate of 8.25 Egyptian pounds to the dollar versus 7.75 pounds in the 2015-2016 proposed budget," one of the government sources told Reuters.
Egypt has been starved of foreign currency since a popular uprising in 2011 ousted autocrat Hosni Mubarak and drove tourists and foreign investors away.
Its foreign currency reserves have tumbled from $36 billion in 2011 to $16.4 billion, and the country has been rationing dollars through the weekly dollar auctions to banks, keeping the pound artificially strong.
REUTERS
Breaking Headlines
Egypt
Currency
Next
Grand Mufti Derian travels to Saudi Arabia for Hajj
Recommended For You
d-none hideMe
0
Lebanon News
2024-03-27
Breaking news: Israeli aircraft hits cafe in Naqoura
Lebanon News
2024-03-27
Breaking news: Israeli aircraft hits cafe in Naqoura
0
Sports News
2024-03-21
World Cup Asian qualifiers: Match between Lebanon and Australia ends with a 2-0 victory for the host, Australia
Sports News
2024-03-21
World Cup Asian qualifiers: Match between Lebanon and Australia ends with a 2-0 victory for the host, Australia
0
Sports News
2024-03-21
2026 FIFA World Cup qualifiers: The match's first half ends with the Australian team leading the Lebanese team 1-0
Sports News
2024-03-21
2026 FIFA World Cup qualifiers: The match's first half ends with the Australian team leading the Lebanese team 1-0
0
Lebanon News
2024-03-21
Israeli warplanes break sound barrier over Nabatieh and Iqlim al Tuffah, NNA reports
Lebanon News
2024-03-21
Israeli warplanes break sound barrier over Nabatieh and Iqlim al Tuffah, NNA reports
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Press Highlights
2024-01-22
Saudi diplomacy: Seeking solutions beyond Lebanon's presidential file
Press Highlights
2024-01-22
Saudi diplomacy: Seeking solutions beyond Lebanon's presidential file
0
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
0
Lebanon News
2024-02-28
Hamas launches missile salvos from southern Lebanon into northern Israel
Lebanon News
2024-02-28
Hamas launches missile salvos from southern Lebanon into northern Israel
0
Lebanon News
2023-09-09
Lebanese Army receives ten containers of ammunition in US support
Lebanon News
2023-09-09
Lebanese Army receives ten containers of ammunition in US support
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Middle East News
01:05
Israeli strikes on Syria kill dozens
Middle East News
01:05
Israeli strikes on Syria kill dozens
2
Lebanon News
03:40
Citizen killed in Israeli drone attack in Bazouriye
Lebanon News
03:40
Citizen killed in Israeli drone attack in Bazouriye
3
Lebanon News
03:04
Israeli drone strikes car in Bazouriye, south Lebanon
Lebanon News
03:04
Israeli drone strikes car in Bazouriye, south Lebanon
4
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
5
News Bulletin Reports
13:28
UNHCR and WFP aid reduction: A threat to Syrian families in Lebanon
News Bulletin Reports
13:28
UNHCR and WFP aid reduction: A threat to Syrian families in Lebanon
6
Lebanon News
05:56
Hezbollah mourns three martyrs from south Lebanon
Lebanon News
05:56
Hezbollah mourns three martyrs from south Lebanon
7
News Bulletin Reports
12:02
Israeli Diplomatic Maneuvers: Negotiating Amidst Internal and External Pressures
News Bulletin Reports
12:02
Israeli Diplomatic Maneuvers: Negotiating Amidst Internal and External Pressures
8
Lebanon News
07:46
Hezbollah official killed in Israeli airstrike in southern Lebanon: AFP
Lebanon News
07:46
Hezbollah official killed in Israeli airstrike in southern Lebanon: AFP
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More