#dollar crisis
The Egyptian Pound has slid by more than 14 percent against the United States’ Dollar as of Thursday 27, October, reaching an all-time low at EGP 22.8 for every USD 1. While Egypt has secured a loan from the International Monetary Fund amid major economic strife, this devaluation is forecasted to increase over the coming months, according to the Abu Dhabi Commercial Bank PJSC. This drop follows a depreciation in March, which saw the pound slip an initial 14 percent.…
