Cairo • The Egyptian pound has dropped to record lows on the black market in the past week, hovering between 9 and 9.25 per dollar, as importers struggle to find dollars for their operations and ...

The pound was instantly diminished when the Central Bank of Egypt announced its surprise 600-point rate hike. The currency dropped 38% rapidly, and Choppara's position exploded in value.

However, it should not be the final step. Rather the Egyptian central bank now should focus on formulating a clear rule-based monetary policy framework that will ensure nominal stability in Egypt.

The US dollar has fallen to its lowest level in Egypt in nine months, reaching LE 48.75 for buying and LE48.85 for selling per dollar. Bankers attribute this continued decline of the dollar against ...

The gap between the official rate of the Egyptian pound against the dollar and the price on the black market has widened further, putting pressure on Egypt ahead of a crucial International ...

(Bloomberg) -- Egypt’s pound has slipped to its lowest level since a devaluation in March, amid a broad sell-off in emerging markets and increased local demand for dollars.Most Read from ...

Israeli authorities announced today that the Egyptian pound will cease to be negotiable currency in the Gaza Strip and Sinai after Feb. 16 and possession of it will be prohibited. The Israel pound ...