Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis points. Both steps were key conditions set by the IMF which Egypt had to meet before the approval of a new financial aid package. IMF […]
Source: https://news.bitcoin.com/egypt-devalues-currency-raises-interest-rates-to-fulfill-key-imf-aid-requirement/
Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement
