VOL. XLIV
No. 28
9-July-2001
EGYPT
Egypt Cuts Exchange Rate Peg, Eases Trading Band
The Egyptian Central Bank on 3 July adjusted the US dollar peg for the Egyptian pound downwards to $1=E3.90 from the previous rate of $1=E3.86, while at the same time widening the trading band for the local unit to 1.5% either side of the peg for rates against the dollar and Arab currencies and 2% for other foreign currencies. The move forms part of the Central Banks policy of managing a staged devaluation of the...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!