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Post by sevenofnine on Oct 27, 2022 15:20:48 GMT -5
Egypt hasnt been since since Arab spring Egypt’s pound slid about 14.5 percent to a record low against the United States dollar after authorities announced a $3bn International Monetary Fund (IMF) deal with a commitment to a “durably flexible exchange rate regime”. The central bank also raised interest rates by 200 basis points in an out-of-cycle meeting, saying it aimed to anchor inflation expectations and contain demand-side pressures. www.aljazeera.com/economy/2022/10/27/egypts-pound-at-record-low-after-3bn-imf-deal-announcement
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