Egypt’s currency plunged the most since last year’s devaluation to hit a record low after US President Donald Trump’s tariffs roiled global markets.

At the Central Bank of Egypt (CBE), the exchange rate closed at EGP 51.19 to 1 USD, up from EGP 50.66 on Thursday. The US dollar was similarly quoted at EGP 51.07 for buying and EGP 51.17 for ...

Essentially, it means the government is no longer controlling the value of the Egyptian pound compared to other currencies. For decades, it had been pegged to the US dollar, which meant that its ...

Amid global market volatility and mounting domestic economic pressures, the Egyptian pound (EGP) is undergoing one of its most sensitive phases since the 2016 currency floatation. In the first ...

An anonymous senior official at CBE told Ahram Online that the decision is considered "a maneuver” to combat the informal market so that the value of the Egyptian pound will recover again ...

(Bloomberg) -- Egypt’s pound has slipped to its lowest level since a devaluation in March, amid a broad sell-off in emerging markets and increased local demand for dollars. The pound is trading ...