Egypt’s Devalued Pound and Rescue Funds Trigger Stock Frenzy
- EGX 30 gauge has posted weekly gains since pound was devalued
- Egyptian stocks trade at lower-than-average valuations
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Egyptian stocks have gone on a furious bullish run since the country devalued its currency and agreed on a $3 billion loan from the International Monetary Fund last month, giving investors more confidence to capitalize on cheaper shares.