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  1. apnews.com › article › egypt-economy-pound-inflationEgypt floats its currency and agrees with the IMF to increase ...

    Mar 6, 2024 · The flotation of the Egyptian pound, combined with a sharp raise of the main interest rate, is meant to combat inflationary waves and attract foreign investment. The measures, announced by the Central Bank of Egypt early Wednesday, were among the key demands of the IMF to increase its $3 billion bailout loan that both parties agreed to in 2022.

  2. www.reuters.com › world › middle-eastEgypt secures IMF deal after pound plunge, bumper rate hike

    Mar 6, 2024 · The currency weakened to beyond 50 Egyptian pounds to the dollar - far beyond previous records - from about 30.85 pounds, a level Egypt has for months tried to defend. It closed at 49.4 to the dollar.

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  4. en.wikipedia.org › wiki › Egyptian_poundEgyptian pound - Wikipedia

    Hence the Egyptian and Turkish units split from each other in value, with the Egyptian unit continuing its exchange value of 97.5 piastres to the pound sterling. In 1885, Egypt went into a purely gold standard, and the Egyptian pound unit, known as the juneih, was introduced at £E1 = 7.4375 grammes of fine gold.

    • EGP (numeric: .mw-parser-output .monospaced{font-family:monospace,monospace}818)
    • £, E£, £E, LE, EGP, .ج.م‎

  5. www.ft.com › content › 155edd32-f611-4b33-b5bb-0d1bEgypt secures $8bn IMF deal after removing currency controls

    Mar 6, 2024 · Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Egypt secured a deal to more than double its IMF bailout to $8bn after the country allowed its currency to ...

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  7. www.reuters.com › world › africaEgyptian pound steadies after devaluation, IMF deal | Reuters

    Mar 8, 2024 · Egyptian officials said they expected more inflows and the pound held steady on Thursday, a day after the central bank announced a shift to a more flexible exchange rate and let the currency ...

  8. www.middleeasteye.net › news › egypts-currencyEgypt's currency in freefall: What does it mean and why now?

    Nov 22, 2016 · Ayesh, the Egyptian analyst, said the IMF loans would reduce pressure on the Egyptian pound, but time was needed for there to be an effect. For Egyptians facing an economic crisis, and for a ...

  9. www.thenationalnews.com › business › economyEgypt finalises $8 billion deal with IMF after currency hits ...

    Mar 6, 2024 · Egypt devalues currency to record low. Egypt has finalised a deal with the International Monetary Fund to receive $8 billion in loans, Prime Minister Mostafa Madbouly announced on Wednesday. It came hours after the Central Bank of Egypt increased interest rates and allowed the local currency to freely float with no interventions from the state.

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