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The Egyptian pound is sliding against foreign currencies, inching nearer to 50 per U.S. dollar after a recent hike in subway fares and fuel prices. The currency reached 49.16 to the U.S. dollar ...
This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound was also used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an ...
The currency weakened to beyond 50 Egyptian pounds to the dollar - far beyond previous records - from about 30.85 pounds, a level Egypt has for months tried to defend. It closed at 49.4 to the dollar.
Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a ...
According to the World Bank, Egypt ranked first among the countries most affected by food price inflation at the end of 2023, and witnessed successive increases in general inflation indicators, especially in food prices, due to the successive devaluation of the Egyptian pound against the dollar since 2016 and the increase in the food import ...
This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound continued with its exchange rate of £E = £1 0s 6d sterling until the beginning of the 1960s.
(Bloomberg) -- Egypt plans to develop a new indicator for its currency and add instruments to hedge against risks, as it turns the page on years of keeping the pound’s value stable around the ...
The currency of Egypt is the Egyptian pound (E£ or ج.م – abbreviated to "LE" or "L.E." – livre égyptienne, "Egyptian pound" in French). The pound is divided into 100 piastres. The approximate official exchange rate for US$1 is E£49.57 as of November 2024. The Central Bank of Egypt controls the circulation of