Russia CB adds EGP to exchange rate list/ Engineering industries exports recorded $3.8 bln in 2022 for the 1st time/CBE to offer T-bills for EGP 35bln
Russia's central bank has added nine currencies to its list of exchange rates against the ruble, including the Egyptian pound, starting 18 January.
The official exchange rate between the Egyptian pound and the Russian ruble, according to the Russian central bank's website, is EGP 10 to 23.3 rubles (EGP 1 to 2.3 rubles).
A subsidiary of the Egyptian "El Sewedy Electric" signs a $176.1 million contract to construct a 300 megawatt solar power plant for the Ghazala Energy Company. Saudi Arabia The project will be implemented within 16 months, in addition to 29 months of operation and maintenance.
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Transportation exports increased by 10.1%. The Export Council for Engineering Industries said that the sector’s exports recorded unprecedented historical rates in 2022, achieving an increase of 10%, bringing the total engineering exports to $3.836 billion in 2022, compared to $3.497 billion in 2021.
The Export Council for Engineering Industries added in its monthly report that the most important sectors whose exports increased during 2022 compared to 2021 are cables, which increased by 25.6%, and exports of automobile components increased by 13.8%, and exports of household appliances increased by 0.8%, and the electrical and electronic industries recorded an increase in their exports by 18.4%. .
The Central Bank of Egypt (CBE) is set to offer treasury bills (T-bills) with a combined value of EGP 35 billion through two auctions.
The first offering is valued at EGP 13.5 billion, carrying a 91-day maturity period, according to official data. The second offering is valued at EGP 21.5.billion, with a maturity period of 273 days.