Egypt Allows Currency to Weaken by 35% After Massive Interest Rate Increase
Wednesday, 6 March 2024, 08:36
Egypt Currency Devaluation
Egypt has decided to devalue its currency by a striking 35% following a significant interest rate hike, indicating a drastic economic strategy.
Importance of the Devaluation
- This currency devaluation is expected to have a major impact
- on the country's economic stability and prospects in the global market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.