The Egyptian pound dropped to its lowest official rate ... Perhaps he was aiming to be transparent or he was concerned by a recent increase in hot cash leaving the central bank’s coffers ...

Essentially, it means the government is no longer controlling the value of the Egyptian pound compared to other currencies. For decades, it had been pegged to the US dollar, which meant that its ...

The decline of the Egyptian pound against the US dollar by 6 per cent in recent weeks, say experts, is unlikely to benefit the national economy. Economists say that Egypt should worry about its ...