VOL. XLVI
No 12
24-March-2003
EGYPT
Egyptian Pound Continues To Slide On Black Market After Float
The Egyptian Governments adoption of a floating exchange rate policy on 29 January (MEES, 3 February) has failed to eradicate the black market for Egyptian pounds and the pounds value against the dollar has continued to slide in both black market and official transactions. The adoption of the floating exchange rates was welcomed by local and international economists, but they suggest that the...
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