Egyptian Pound Rises on Black Market Amid Muted Dollar Demand
- Currency jumps 12% in a week, reversing recent trajectory
- Pound trades at 37 in parallel market versus 30.9 at banks
A customer holds Egyptian pound banknotes for a purchase at a food market in the Imbaba district of Giza, Egypt.
Photographer: Islam Safwat/BloombergThis article is for subscribers only.
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Egypt’s pound has rallied 12% on the local black market over the past week as demand for US dollars diminished.