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The currency weakened to beyond 50 Egyptian pounds to the dollar - far beyond previous records - from about 30.85 pounds, a level Egypt has for months tried to defend. It closed at 49.4 to the dollar.
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 ...
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
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 ...
Drugs and weapons abound on the black market -- but one commonplace household item is also traded like a commodity. ... 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium ...
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 ...
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
contracted NDF rate: the rate agreed on the transaction date, and is essentially the outright forward rate of the currencies dealt. prevailing spot rate (or fixing spot rate ): the rate on the fixing date usually provided by the central bank , and commonly calculated by calling a number of dealers in the market for a quote at a specified time ...