Finally, a floating pound

Egyptians woke up Thursday 3 November to news that the Central Bank of Egypt (CBE) had floated the Egyptian pound. The CBE placed a tentative exchange rate of 13EGP against a dollar, give or take 10 per cent. This meant the CBE had devalued the EGP by as much as 38 per cent. At 1pm … Continue reading Finally, a floating pound