Egypt’s currency weakens to 26.49 to the dollar – Reuters
- Date: 04-Jan-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Egypt
Egypt’s currency weakens to 26.49 to the dollar – Reuters
CAIRO, Jan 4 (Reuters) - The Egyptian pound weakened to 26.49 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5% on Oct. 27, according Refinitiv Data.
It was about 24.70 to the dollar at the opening of the trading day.
Currency flexibility has been a key demand by the International Monetary Fund, which approved a 46-month, $3 billion financial rescue package in October.
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