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Markets

Egypt's central bank holds pound at 7.7301 per dollar

Published November 19, 2015 Updated November 19, 2015 10:24am

imageCAIRO: Egypt's central bank will hold the pound steady at 7.7301 pounds to the dollar at an official foreign currency auction on Thursday, traders said.

Egypt is facing a dollar shortage and mounting pressure to devalue the currency. The central bank surprised markets when it strengthened the pound on Nov. 11 by 20 piasters against the dollar.

Copyright Reuters, 2015

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