The report referred to the flotation, saying that despite improving the conditions in Egypt, the effect of the currency depreciation
will weigh on firm's margins.
Of note, the stock market's performance returned twice as much as the entire depreciation, which resulted in investors preserving all their capital during this period of sharp currency depreciation
However, any local currency depreciation
will not be good for clients who are importers.
Conditions for Eurobond issuance may continue to prove challenging, as a slightly more favorable commodity price environment is offset by tightening financing conditions and currency depreciation
Though measures had recently been taken to address these trends, including some currency depreciation
, tax rebates on exports and import duties on non-essential goods, these proved insufficient thus far to arrest the ongoing decline in reserves, Fitch said.
In Uzbekistan, exchange rate liberalization in September 2017, which resulted in a significant currency depreciation
, will help improve competitiveness, enhance market efficiency, and economic growth.
The FPCCI president advises the SBP to intervene and check the currency depreciation
Fitch opined it was still uncertain how much currency depreciation
, the central bank would permit and although 'the SBP has indicated its commitment to allowing the market to determine the value of the rupee, with intervention limited to smoothing operations.
The budget deficit grew rapidly and borrowing on the international markets both contributed to a four-fold increase in government debt, while expansionary policies contributed to a sharp currency depreciation
and a significant loss of international reserves since 2013.
Oil stocks stood strong throughout the day with investors not only tracking gains in global crude prices but also currency depreciation
S&P could revise the outlook to AaAaAeAeAaAaAeA@"stableAaAaAeAeAaAaAeA@" if plan to gradually reduce government debt-to-GDP is derailed by fiscal slippages, high borrowing costs, or larger currency depreciation
than expected, or if foreign exchange reserve levels were to fall significantly.
In September, the IMF praised Egypt's efforts in implementing its economic reform programme despite seeking waivers for missing some targets in June and a deeper-than-expected currency depreciation
, but inflation remains the main risk for stability.