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Egypt's Currency Crisis!


Get 25% off Blinkist premium and enjoy 2 memberships for the price of 1! Start your 7-day free trial by clicking here: Egypt allowed its pound to tumble to a new low this week as the country struggles with a foreign currency crisis that is hurting businesses. The slump in the currency comes after Egypt agreed to move to a flexible currency regime as part of an IMF $3bn bailout intended to help relieve its foreign currency shortage. Since the central bank said it would move to a flexible currency rate in October, the pound has lost a third of its value as it has allowed it to devalue in phases. Analysts warn that it has further to fall until supply-demand equilibrium is restored to the foreign exchange market. The weakness of the Egyptian pound is adding to the pain of millions of Egyptians as it fuels inflationary pressure. Patrick's Books: Statistics For The Trading Floor: Derivatives For The Trading Floor: Corporate Finance: Patreon Page: Visit our website: www.onfinance.org Follow Patrick on Twitter Here: Patrick Boyle On Finance Podcast: Spotify: Apple: Google Podcasts: Join this channel to support making this content: ...(read more)


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