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Currency Markets

Currency Markets latest

Egypt's Black Market grapples with sharp Dollar drop
February 25th, 2024 - 08:14 GMT
Osama Ali

Osama Ali

Egypt's Black Market grapples with sharp Dollar drop

According to 'Lovin Cairo' newspaper, The value of the US dollar in Egypt's informal currency market has dropped to 49 Egyptian pounds following the announcement of a major deal. Trading of the dollar ceased shortly after the Cabinet's declaration of $35 billion in new investments as part of the "Head of the Wise" project, leading to significant market confusion over the actual worth of the American currency. 'Lovin Cairo' reveal ...
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