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    Central Bank of Egypt Devalues Currency

    Egypt’s economy is in turmoil and has introduced a plan to ease their short supply of dollars.

    ... The Central Bank of Egypt devalued its currency in an effort to achieve monetary stability in their economy. As a result the bank has decided to adopt a more flexible exchange rate system. Wall Street Journal reports the bank, “On Monday sold almost...

    Tags: central bank of egypt,currency,foreign currency,exchange rate,economy,egypt