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Egypt's pound plunges to historic low with IMF deal

Egypt has agreed to allow its currency to float in order to receive $3 billion from the International Monetary Fund.
Chris McGrath/Getty Images

The Egyptian pound dropped to another record low on Wednesday as the country moves forward with an International Monetary Fund deal. 

The currency traded at more than 30 pounds to the dollar Wednesday before dropping back to around 27, according to the currency website Xe. 

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