egypt currency devaluation

Egypt Inflation Hits Eight-Year Highs After Currency Float

By Lin Noueihed and Ehab Farouk CAIRO, Dec 8 – Egypt‘s headline inflation surged to an eight-year high of 19.4 percent in November, propelled by a steep currency depreciation since the central bank dramatically floated the pound and hiked fuel prices last month. Prices in the most populous Arab country were likely to keep rising

[ Read More ]

Egypt to Face Pain Before Gain After Massive Currency Devaluation

By Andrew Torchia CAIRO, Nov 7  – The pain of Egypt‘s currency devaluation may be felt well before the benefits, creating a period of at least several months in which there is little positive news to offset rising inflation and falling living standards, businessmen and economists say. By bringing the Egyptian pound down to levels

[ Read More ]