Egypt pound at weakest in more than 6 years

Reuters, Thursday 24 Mar 2011

As foreigners traders return to the market in the early morning, selling shares on the Bourse, the Egyptian pound seen the lowest levels since 2005

Egypt pound falls to 6-year low (Photo: Reuters)

The Egyptian pound traded as weak as 5.9605 to the U.S. dollar on Thursday, its lowest level since January 2005.

Bankers expect the currency to come under pressure in the coming days as foreign investors sell shares on the Egyptian stock exchange, which reopened yesterday after political unrest kept it closed for more than seven weeks.

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