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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 ...
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 ...
While it was likely to continue appreciating in the short-term, given the skyrocketing oil prices and the weakening US economy, the advent of the global economic crisis of 2008, and resulting behavior of foreign investors exiting from the stock market in Egypt increased the dollar exchange rate against the Egyptian pound, which rose by more ...
Egyptian Exchange البورصة المصرية (Egyptian Arabic) Type: Stock exchange: Location: Cairo, Egypt: Founded: 1883: Key people: Rami El-Dokany (Chairman) Currency: Egyptian pound: No. of listings: 266 [1] Market cap: US$37.5 billion (E£1.8 trillion) [1] Volume: E£2.9 billion [1] Indices: EGX 30 EGX 50 EGX 70 EGX 100: Website: egx.com
In 1836, the Egyptian pound was first introduced and it became open for public use. [4] The bank floated the Egyptian pound during the morning of the 13th of November 2016. [5] [6] Financial reserves of the Egyptian pound stood at 2.24 trillion in December 2024. [7]
This is a list of governorates of Egypt by GDP and GDP per capita. The Egyptian pound (EGP) has been converted to the international dollar using the IMF's Purchasing Power Parity conversion rate (one International dollar per 4.538 EGP in 2021).
The Egyptian Pound has experienced a 98% drop in value relative to the US dollar since the start of 1960 with a volatility score of 18.2. [10] The lack of stability combined with rampant devaluation has made it difficult for the private sector to afford imports of basic goods and services. In addition, instead of providing subsidies to support ...
The piastre was based on the Turkish kuruş, introduced while Egypt was part of the Ottoman Empire. As in Turkey, debasement lead to the piastre falling significantly in value. In 1834, the pound, or gineih (Arabic), was introduced as the chief unit of currency, worth 100 piastre. The piastre continues in use to the present day as a subdivision ...