Egyptian pound at six-year low vs US dollar

Reuters, Wednesday 30 Mar 2011

Foreign sell-offs on stock market puts pressure on currency, say bankers

The Egyptian pound fell to 5.9690 pounds to the US dollar on Wednesday, its lowest level since January 2005.

Bankers said the currency was under pressure as foreign investors sold shares in the Egyptian stock exchange, which reopened last week after the closure of more than seven weeks because of political unrest.

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