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USD continues to rise against Egyptian pound
Mohamed Abdel Megeed Published in Albawaba on 03 - 02 - 2015

Concerns over the rise of US dollar exchange rate against the Egyptian pound on the official market have been on the rise among businessmen and importers, as it outraged the USD's price in the black market.
The rise in the value of USD in both the official and black markets would directly reflect on the prices of all the products in the Egyptian market, causing a state of recession due to the high prices.
USD has jumped drastically by 48 piasters since January 18th after remaining stable for the past six months at EGP 7.14, leading to the rise of other currencies' prices as a result. The Euro registered EGP 8.58, while the Sterling reached EGP11.41 on Tuesday.

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