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Mar 6, 2024 · The Egyptian pound slipped sharply against the dollar on Wednesday March 6, 2024 after Egypt’s central bank raised its main interest rate and said it would allow the currency’s exchange rate to be set by market forces.
Mar 8, 2024 · CAIRO, March 7 (Reuters) - 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...
Mar 6, 2024 · Since early 2022, when the foreign currency shortage worsened, the pound has now lost more than two-thirds of its value against the dollar in a series of staggered devaluations.
Mar 6, 2024 · CAIRO, March 6 (Reuters) - Egypt's move to devalue the pound was met with frustration online and on the streets, with Egyptians complaining about everything from the cost of diapers to...
Jan 4, 2023 · Egypt’s pound plunged on Wednesday to a record low, in the latest sign of the country’s severe foreign currency crunch two months after Cairo agreed a $3bn rescue loan from the IMF. The ...
- Heba Saleh
Mar 6, 2024 · The fund said on Wednesday that Cairo had taken “decisive steps to move towards a credible flexible exchange rate regime” after Egypt’s central bank devalued the pound by 40 per cent and...
Mar 6, 2024 · Since 2022, Egypt has devalued its currency three times but maintained controls to fix the exchange rate each time. Wednesday's decision is the first time the currency will be allowed to freely trade on currency markets.
