devaluation

What will Egypt’s flexible exchange rate look like?
Business

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

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

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

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

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

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

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…
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