Egyptian Pound Devaluation Bets Ease as Citi Sees No Short-Term Move
- Citi says pound unlikely to be devalued through June 30
- Pound’s derivatives contract has recovered from a record low
A shopper at a market in Giza.
Photographer: Islam Safwat/BloombergThis article is for subscribers only.
Sign up for our Middle East newsletter and follow us @middleeast for news on the region.
Traders are pushing back expectations for a devaluation in the Egyptian pound, with Citigroup Inc. predicting that the central bank will likely hold off on such a move at least through the end of next month.