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الشرق الأوسط
Egypt currency traders' stabilization efforts
Egyptian authorities are intensifying their efforts to crack down on currency traders in order to stabilize the exchange market. The ministry announced the seizure of cases involving transactions worth more than 26 million pounds within 24 hours, the highest figure reported in recent times. Laws punish currency trading practices in Egypt with imprisonment ranging from 3 to 10 years and fines of up to 5 million pounds. The Ministry of Interior emphasizes that these measures aim to combat illegal speculation and its negative impact on the economy. Meanwhile, the dollar exchange rate has stabilized, dropping to approximately 52.2 pounds in most banks, with experts affirming that the parallel market currently does not exist.
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