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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 ...
Hany Rashwan, CEO of Amun/21Shares, explains how the proverbial bitcoin lightbulb went off when his native Egypt’s currency devalued in 2016. How a Massive Devaluation of the Egyptian Pound ...
In 1885, Egypt went into a purely gold standard, and the Egyptian pound unit, known as the juneih, was introduced at E£1 = 7.4375 grammes of fine gold. This unit was chosen on the basis of the gold content in the British gold sovereign and maintaining the exchange value of 97.5 piastres to the pound sterling, and it replaced the Egyptian ...
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. [24]
The threat of conflict in Libya, water security worries and a flatlining tourist sector risk upending a nascent rally in Egyptian bonds, bankers and economists say. The North African country has ...
Egypt's finance minister said on Monday the government could no longer depend on foreign purchases of treasuries to finance its budget, but must work to boost foreign direct investment (FDI) instead.
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket.
The Post connected the dots from a $9,998,000 withdrawal from a Cairo bank five days before Trump was inaugurated in January 2017 to a seeming front for Egyptian intelligence, fueling an ...