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NBE becomes the latest bank to cut credit card FX limits
The cuts come amid a push by the central bank to curb FX spending
CIB, ADIB cut credit card limits on FX spending
The central bank has been tightening its grip on FX transactions in recent months
Inflation eases for a third consecutive month to seven-month low
Inflation slowed to 33.7% in December driven by falling core inflation
Another sign were edging towards a larger IMF package
IMF head Kristalian Georgieva met with CBE boss Hassan Abdalla last week
Banks impose minimum interest rate of 24% on secured loans
The new minimum came into effect on Monday following instructions from the CBE
CBE instructs all local banks to charge a minimum 24% interest rate on all secured loans
Good afternoon, friends. It’s an eerily calm news day here at home so far, although we have a feeling it’s…
FX reserves flat in December
Our total FX reserves now stand at USD 35.2 bn
Current account deficit narrows in 1Q 2023-2024
This is the second quarterly BoP surplus in a row and the third quarterly surplus since 2014
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