After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary Fund (IMF) before it eventually approved a $3 billion bailout package for Egypt. The IMF’s Key Condition A report has said that the official exchange rate of the Egyptian pound versus the U.S dollar plunged by 15% to 23.09 per dollar after the central bank announced the adoption of a more flexibl ...
Continue reading the above news article, by clicking here.
Administration and Moderation NOTE: A Reminder, the above news is provided for free, through a RSS Feed. The above quote does NOT include the full story. In order to continue to read more past what is quoted, please click through to the article, by clicking on the link provided above through the "continue reading" text.
Please be sensible and follow our terms of service and rules, when replying and debating the news article.
Welcome to Admin Junkies