#stock exchange
Egypt’s stocks reached a two-month high after receiving a cash deposit from Saudi Arabia, driving speculation that the country is about to devalue its currency, Bloomberg news agency reported. The benchmark EGX 30 index rose by 3.9 percent by the end of the day, to reach 8505.12 points, in odds with the decline of most emerging markets worldwide. “The news overnight about the Saudi deposit is prompting investors to speculate that the devaluation is imminent,” Sherif Shebl, an equities trader at…