Egypt to value pound vs currency basket eventually

- Central Banking staff
- 29 Jan 2001

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Egypt's Economy and Foreign Trade Minister Youssef Boutros-Ghali said on Jan. 29 the Egyptian pound would eventually be valued against a basket of currencies, rather than the dollar as now."We are waiting to move to a basket of currencies when the time is proper," Boutros-Ghali told a joint news conference with central bank governor Ismail Hassan.

He said the central bank had been calculating the pound's value against an unspecified target basket of currencies on a shadow basis since the

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