Business

Egypt’s pound weakens to five-year low vs dollar

The Egyptian pound weakened on Tuesday to its lowest point against the dollar since July 2005, trading as low as 5.7740 to the US dollar.

Traders have cited a range of factors for recent weakness, including some concerns about the country's future leadership as elections loom and a possible desire of the central bank to let the pound weaken modestly to help exporters.

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