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In February 1973, the dinar was pegged to the US dollar at a rate of 0.29679 dinar per dollar (LD 1 = US$3.37), which was maintained until 1986. The peg was switched to the special drawing rights on 18 March 1986, with 1 dinar = 2.80 SDRs. On 1 May 1986, the dinar was allowed to trade in a 7.5% range of 2.80 SDRs.
CAIRO/DUBAI (Reuters) -Egypt secured on Wednesday an expanded $8 billion deal with the International Monetary Fund, hours after the central bank unshackled its currency and delivered a 600 basis ...
The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal. [ citation needed ] In many rural areas there is still a strong bartering culture, the exchanged items being of more immediate value than official currency (following the principle that one can ...
Change in per capita GDP of Egypt, 1820–2018. Figures are inflation-adjusted to 2011 International dollars. From the 1850s until the 1930s, Egypt's economy was heavily reliant on long-staple cotton, introduced in the mid-1820s during the reign of Muhammad Ali (1805–49) and made possible by the switch from basin irrigation to perennial, modern irrigation. [25]
The gap between official and black market exchange rates continues to widen, with many people and informal traders who dominate the economy again preferring the more stable dollar.
Drugs and weapons abound on the black market ... The best under-$50 clothing items to buy at Amazon right now. See all deals. In Other News. Entertainment. Entertainment. Harper's Bazaar.
Currently, with no other reliable source other than the black market exchange rates, these rates are used by Reuters, CNBC, and several media news agencies and networks. [ 9 ] [ 10 ] The Economist states that the rates calculated by DolarToday are "erratic", but that they are "more realistic than the three official rates" released by the ...
A viral post shared on X claims Colorado Republican Rep. Lauren Boebert purportedly said Egypt owns the Panama Canal. Verdict: False The claim is false and originally stems from an account on X ...