Egypt's pound falls further against US dollar

Egypt's pound slides about 4% to 24 against the dollar after authorities announced a commitment to a "durably flexible" exchange rate regime.
Sunday 30/10/2022
Egyptian pound
Sliding further

CAIRO - Egypt's pound fell about 4% to 24 against the dollar as trading resumed on Sunday after the weekend, Refinitiv data showed.

The pound had slid about 14.5% against the dollar on Thursday after authorities announced a commitment to a "durably flexible" exchange rate regime along with a preliminary agreement for a $3 billion loan from the International Monetary Fund.