Egyptian Pound Falls to Eight-Year Low After S&P Rating Cut

Currency loses 0.1% to 6.1785 at 12:03pm in Cairo, heading for lowest close since Dec. 2008, according to prices compiled by Bloomberg. * Pound -1.3% over last month, -2.4% since start of year * S&P cut Egypt’s long-term credit ratings to B- yday, 6 levels below inv grade and on par w/ Greece, Pakistan

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