December 1, 2022

Egypt’s pound sinks additional towards greenback after

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CAIRO — Egypt’s pound fell about 3% to 23.8 towards the greenback as buying and selling resumed on Sunday, Refinitiv knowledge confirmed, after authorities dedicated to a versatile alternate price below an Worldwide Financial Fund help deal.

The pound slid about 14.5% to 23.1 towards the greenback on Thursday after they pledged a “durably versatile” alternate price along side a staff-level settlement for a $3 billion IMF prolonged fund facility.

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Egypt’s foreign money…

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