Stock market and finance Pound remains stable in central bank auctions but continues decline on parallel market After a major devaluation of the Egyptian pound in March, the currency remained stable at 8.78 to the dollar at central bank auctions but continued its drop on the parallel market. Indeed, in spite of latest initiatives by the…
The pound As the Egyptian pound reached a record low of US1$ equaling 10 LE on the black market in March, the Central Bank of Egypt announced that it would pursue a more flexible exchange rate policy. In fact, on the 14th of April, the CBE admitted a major devaluation of the pound to 8.85 EGP per dollar from its…
