Egyptian currency plunges amid move to flexible exchange rate

Central Bank of Egypt
The Central Bank of Egypt

The Egyptian pound fell sharply this week as the central bank allowed the exchange rate to move more flexibly, a key condition of an International Monetary Fund loan.

The pound was down 9.1% against the dollar today (January 11), relative to a week earlier. Over the past year, it has shed nearly 45% of its value, mostly through a series of large devaluations orchestrated by the Central Bank of Egypt (CBE). It is unclear whether the central bank has fully stepped back from the foreign exchange

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: