Page 7 - Currency Devaluation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Egypt's inflation rate probably fell for a third straight month in December on lower food prices, but may see an uptick in coming months after recent government price rises and a possible currency devaluation, a Reuters poll showed on Monday. Inflation has eased from a historic high of 38.0% in September, but inflation risks are growing again. "The various price hikes announced last week are likely to drive inflation higher in the January inflation print released in early February," said Carla Slim of Standard Chartered.

The National Bank of Egypt and Banque Misr are the country’s two major banks where most of the Egyptians' savings are kept.

People are to pay more for internet and Cairo Metro; Power tariffs will also go up

The relaxing of rules around land sales comes as the Egyptian government tries to overcome a shortage of foreign currency.

Holiday makers can hardly have failed to notice 2023 was a stellar year for the pound. Of the world’s major currencies, sterling was a top performer.