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Egyptian pound floated at 13 LE to $1

BREAKING NEWS: The Central Bank of Egypt informed the banking community earlier this morning that it has floated the pound to EGP 13.00 per USD 1.00.

The EGP will initially be allowed to fluctuate in a 10% up / down band.

Our friends in the banking community confirm that an extraordinary auction is scheduled for 13:00 this afternoon.

Source: Enterprise

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