DEVALUATION: Central Bank of Egypt Floats Pound

Posted on 11/04/2016

In a historic moment for Egypt’s monetary woes, the pound gets massively devalued. Since the 2011 uprising that ended the rule of Hosni Mubarak, Egypt has struggled to accumulate U.S. dollars (hard currency) as political fallout and unrest had driven away foreign institutional investors and tourists. Security issues have spooked many tourists from visiting Egypt’s […]

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