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Published 2 years ago

Egypt’s foreign currency gap narrows to $400mn in July

Summary by Ground News
Egypt has seen billions of dollars leave its markets since the Russian invasion of Ukraine in February. Investors have fled emerging markets for safer havens. Deputy governor of the Central Bank of Egypt Gamal Negm said on Saturday that the gap had narrowed. Negm also ruled out any considerable devaluation of the local currency soon.

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Egypt’s foreign currency gap narrows to $400mn in July

CAIRO: Egypt’s foreign currency gap narrowed to $400mn last month from $3.9bn in February, deputy governor of the...

2 years ago
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