11 Hrs
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بوابة الشروق
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Source: بوابة الشروق
11 Hrsبوابة الشروق
Source: بوابة الشروق
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Mustafa Bakri said the dollar had begun to weaken against the Egyptian pound as hot-money outflows eased and oil prices fell from $117 to around $96 a barrel. He noted that the Central Bank absorbs shocks by adjusting the exchange rate and interest rates. He stressed the importance of maintaining a flexible exchange rate, adding that a successful outcome in the latest IMF review could allow Egypt to receive $2.033 billion and strengthen investor confidence. He also said a limited, voluntary cash-assistance pilot would begin in Beheira in early January, before officials consider expanding it nationwide.
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