Devaluation Looms News Today

(Bloomberg) -- Egypt will hold its next presidential election in December, with the vote taking place earlier than expected as authorities face pressure to devalue the currency and take other steps to end an economic crisis and unlock funding from the International Monetary Fund.Most Read from BloombergIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesChinese Gold Buying Is Driving a Paradigm Shift in BullionIndia-Canada Clash Should Be a Wake-Up CallBonds Fall, Dolla

(Bloomberg) -- Egypt will hold its next presidential election in December, with the vote taking place earlier than expected as authorities face pressure to devalue the currency and take other steps to end an economic crisis and unlock funding from the International Monetary Fund.Most Read from BloombergIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesChinese Gold Buying Is Driving a Paradigm Shift in BullionIndia-Canada Clash Should Be a Wake-Up CallBonds Fall, Dolla

(Bloomberg) -- Egyptian inflation soared to a fresh record, with consumer costs now increasingly at the mercy of whether authorities will allow the pound to weaken again.Most Read from BloombergBoss of Failed Crypto Exchange Gets 11,000-Year SentenceCalifornia Shows an Electric-Car Uprising Headed for the USEverything Apple Plans to Show on Sept. 12: iPhone 15, Watches, AirPodsUS, EU Agree on Mideast-India Rail and Shipping Corridor at G-20Ex-Google CEO Eric Schmidt Scraps $67.6 Million Purchase