7 reasons led to CBE’s EGP devaluation against dollar in 2 days
The Central Bank of Egypt (CBE) surprised the market on 2 July with a sudden increase in the dollar price against the Egyptian pound by 10 piasters. This decision was swiftly followed by another increase of the same value on 5 July.
The CBE’s sudden move raised many questions in the market, especially regarding its timing.
In an interview with Ezz Eldeen Hasanen, General Manager at a private bank and a banking and economic expert, Daily News Egypt attempts to answer many of the questions raised on the matter.