#us federal reserve
The Egyptian pound (EGP) reached a new low against the US dollar (USD) this week, selling at EGP 49.3034 per USD and buying at EGP 49.2034 as of 5 August, according to data from the Central Bank of Egypt (CBE). This is the highest USD rate against the EGP since 7 March, when Egypt last devalued its currency causing it to fall to around EGP 50 before eventually settling to around EGP 47 weeks later. Since March, the CBE has…
