EGP Breaks 50-Mark Against USD in CIB Trading

The Egyptian Pound has breached the 50 mark against the US Dollar in trading at the Commercial International Bank (CIB) of Egypt.

Earlier in the same day, the EGP hit a fresh low record against the US dollar, recording EGP 45 on March 6th.

This followed the Central Bank of Egypt's (CBE) announcement to increase the interest rates by 600 basis points (bps) at its special meeting.

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