VOL. XLIV

No. 05

29-January-2001

EGYPT

Egyptian Pound Strengthens But Analysts See Only Short-Term Appreciation

The government and the Central Bank of Egypt (CBE) on 23 January initiated a new set of measures to support the Egyptian pound. The government and the CBE, as well the foreign exchange bureaus, have agreed to implement a 2% fluctuation band for the last three-month Egyptian pound average rate, which allows CBE intervention if the fluctuation exceeds the limit. According to the local...