12.11.2015 - Egypt strengthens currency amid disruptive dollar shortage
Egypt's central bank strengthened the pound on Wednesday for the first time since 2013, injecting dollars into a banking system suffering from an acute foreign exchange shortage and raising expectations of a radical shift in monetary policy. The central bank raised the pound's official value by 0.20 pounds to 7.7301 to the dollar, surprising bankers who had been expecting a depreciation to ease a long-running currency crisis that has hit trade and industry and spooked investors. Heavily dependent on imports for food and energy, Egypt has seen a burgeoning black market for dollars...............................................Full Article: Source
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