Sterling

Keep floating, stop worrying

FEATURE - The real case for an independent pound has nothing to do with ultra-nationalism or hostility to Europe writes Samuel Brittan in Thursday's Financial Times. He suggests the British government allow use of the euro as a parallel currency and…

Punt passes away quietly

IRELAND - The Irish pound ceased to be legal tender from midnight on Saturday as Ireland became the second country within the eurozone - after the Netherlands - to ditch its old notes and coins.

BoE Plenderleith comments on sterling bond market

SPEECH - In a speech to a conference organised by the Association of British Insurers on Apr 2, 2001, Ian Plenderleith, executive director of the Bank of England and a member of the Monetary Policy Committee, reviews developments in the sterling non-gilt…

New Egypt forex peg only valid as short-term fix

Egypt's introduction of a "managed peg" for pound-dollar rates may restore exchange rate stability in the short term but will be unsustainable and counterproductive in the long term, analysts said on Jan. 29, 2001. Under the new system the central bank…

Egypt to value pound vs currency basket eventually

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…

Investors await Eqypt's exchange rate policy

Domestic and foreign investors in Egypt are waiting for some sign from the monetary authorities on a new exchange rate policy nearly two months after the country abandoned a long-standing fixed peg against the dollar.

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