devaluation
What will Egypt’s flexible exchange rate look like?
Business
March 18, 2016
What will Egypt’s flexible exchange rate look like?
Egypt's decision to make the exchange rate more flexible will return the central bank to the managed float in use…
Economic ministerial group considers devaluation of Egyptian pound: Minister
Economy
September 8, 2015
Economic ministerial group considers devaluation of Egyptian pound: Minister
Investment Minister Ashraf Salman announced that the ministerial economic group is seriously considering the devaluation of the Egyptian pound in…
Pound weakens to new record low
Business
February 13, 2013
Pound weakens to new record low
The Egyptian pound weakened to a record low against the US dollar in interbank trade and slid further still on…
Egypt starts currency auctions, says reserves critical
Business
December 29, 2012
Egypt starts currency auctions, says reserves critical
Egypt's central bank introduced a new auction system for buying and selling US dollars to help conserve foreign reserves, which…
In debate over devaluating the pound, officials avoid sparking panic
Business
September 4, 2012
In debate over devaluating the pound, officials avoid sparking panic
In the past year, Egypt has been dealt a series of crippling economic blows, but the Egyptian pound has not…
Looming devaluation of Egyptian pound may have lasting effects
Business
February 13, 2012
Looming devaluation of Egyptian pound may have lasting effects
With a loan deal between Egypt and the International Monetary Fund still uncertain and foreign investors still wary of returning,…
Foreign reserves fall, add to pressure on pound
Business
February 7, 2012
Foreign reserves fall, add to pressure on pound
The drain on Egypt's foreign reserves showed little sign of abating in January, adding to pressure on the government to…