The pound is trading at about 49.8 against the US currency, its weakest since Egypt let it plunge nearly 40% in a bid to attract foreign funding and stem a two-year economic crisis.

Pound slides to 18.45 to the dollar from 18.27 Devaluation since Monday morning reaches 15% Cabinet cuts 2022/23 growth forecast to 5.5% from 5.7% CAIRO, March 22 (Reuters) - The Egyptian pound ...

Egypt's pound weakened by more than 13% to a new low below 32 to the U.S. dollar on Wednesday as the central bank moved to a more flexible exchange rate under the terms of an International ...

Egypt secured an extra $5 billion in IMF loans on Wednesday, the two sides said, after the central bank hiked interest rates and allowed the pound to plunge by nearly 40 percent.

The Egyptian pound dipped to a new low Monday of just over 30 for $1, as the cash-strapped North African country continues to battle surging inflation and foreign currency shortages, authorities ...

Egyptian stocks have gone on a furious bullish run since the country devalued its currency and agreed on a $3 billion loan from the International Monetary Fund last month, giving investors more ...

Egypt's official exchange rate remained at 7.83 at banks since the central bank strengthened the pound by 0.20 pounds in November, a move that came as a surprise to investors.

Egypt’s pound plunges after currency float, interest rate rise By Louis Goss Published: March 6, 2024, 8:03 a.m. ET Share ...