BREAKING NEWS

Egyptian currency sinks to new low

By REUTERS

JANUARY 2, 2013 15:02

CAIRO - The Egyptian pound slid to a fresh record and debt insurance costs surged on Wednesday despite new central bank rules aimed at slowing the currency's fall and the depletion of its foreign exchange reserves.

The economy sank into crisis after the fall of Hosni Mubarak in 2011 but a new bout of political turmoil in the last month has sent Egyptians scrambling to swap pounds for US dollars.

The finance minister said on Wednesday he expected the currency to stabilize soon while one banker said the central bank had narrowed the band for interbank transactions in another attempt to slow the pace of depreciation.

Spain PM Sanchez says he is suspending public duties to "reflect"

By REUTERS

04/24/2024 08:41 PM

US to name former UN official as new Gaza aid envoy

By REUTERS

04/24/2024 07:33 PM

Iranian rapper who took part in Mahsa Amini protests sentenced to death

By JERUSALEM POST STAFF

04/24/2024 06:48 PM

Two rockets fired toward Sderot, house hit by shrapnel

By JERUSALEM POST STAFF

04/24/2024 06:42 PM