Egypt floats pound, raises interest rates by 6% to tackle inflation

The Central Bank of Egypt (CBE) announced a two-pronged approach on Wednesday, in an effort to address pressing economic challenges. The bank decided to float the Egyptian pound, ending its peg to the US dollar, and raised interest rates by 6%. Governor Hassan Abdalla explained that the decision to float the currency aimed to unify [……
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ArabMLS Founder

Ahmed Elbatrawy, who leads the Arab MLS platform, aims to simplify property transactions in the Middle East, paving the way for unprecedented global investment opportunities.

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