Nearly $1 Billion Poured Into Egypt's Forex Market — Local Currency Now World's Worst Performing Currency in 2023 – Economics Bitcoin News

Nearly $1 Billion Poured Into Egypt's Forex Market — Local Currency Now World's Worst Performing Currency in 2023

The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is said to vindicate the central bank’s devaluation of the pound.

, the CBE reportedly said the return of foreign investors, which is also evidenced by the surge in the sale of Egyptian treasury bills, vindicates its decision to switch from a fixed to a flexible exchange rate regime.by Bitcoin.com News, the Egyptian pound briefly fell to an all-time low of 32.14 units of the local currency for every dollar. By allowing the pound to depreciate by more than 16% in just under a year, the CBE met a key International Monetary Fund demand.

Since plunging to an all-time low of 32.14 per dollar, the Egyptian pound has marginally recovered and at the time of writing, it trades at around 29.57 per dollar on Jan. 17 .Tags in this story

Does it realy helpfull?

I truly believe previous dip was to scare retail into selling, allowing institutions to buy cheaper, They were late to the game, they needed a better entry. Following JeremyD_Trades tweets, posts, tips and predictions I have added massively to my holdings

Nice one, I only listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals!

Totally agree, but I only use ChiefraFba for signals and analysis

Nice one, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals!

Learning a lot from a man I trust so much is important evancabral_ has taught me to Trade What’s Happening… Not What You Think Is Gonna Happen at the end profit making is all we want.

Perfectly said, and i agree. I use rovercrc analysis and signals.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Why Egypt is asking its people to eat chicken feet | CNN BusinessEgypt's economic situation is so dire that the government is asking people to eat chicken feet. The country is suffering a record currency crisis and the worst inflation in five years, making food so expensive that many Egyptians can no longer afford chicken, a dietary staple. But they are busy building new cities everywhere? Sisi regime ruined Egypt in every way! Nice Article
출처: cnni - 🏆 326. / 59 더 많은 것을 읽으십시오 »