Egypt to stick to flexible foreign exchange rate regime amid economic turmoil 


Al-Monitor Pro Members


Marc Español

Freelance journalist covering Egypt and Sudan


Nov. 4, 2022

Bottom Line:

Egypt moved on Oct. 27 to a liberalized exchange rate regime as it struggles to weather volatility in the global economy. The local currency has since plunged to record lows against the dollar, and in the short term it will import additional inflation. But the measure aims to restore investor confidence, rebuild foreign reserves and boost exports.

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