| The Egyptian pound has fallen to a new low against the U.S. dollar, the second such drop in days, the country's central bank said Sunday, in a move that could help boost much-needed foreign investment.
The central bank set a cutoff rate of 7.73 Egyptian pounds per dollar in an auction that sold $39.6 million on Sunday, compared to a previous low of 7.63 on Thursday. Before that, the pound had held at 7.53 since February. The new rate was the lowest level since the Egyptian government introduced an auction system in December 2012 aimed at regulating the pound's devaluation...............................................Full Article: Source
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