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Currency black market re-emerges in Egypt as coronavirus spreads

Some unofficial trades were taking place at 16.15 pounds to the dollar, compared to the 15.75 pounds offered by currency exchange bureaus and banks.
24.03.20 | Source: Reuters Africa

A small black market in the Egyptian pound has re-emerged in the last few days as the coronavirus takes a toll on the country’s main sources of foreign currency, bankers and businessmen said on Monday.


Some unofficial trades were taking place at 16.15 pounds to the dollar, compared to the 15.75 pounds offered by currency exchange bureaus and banks, they said.


Egypt has so far registered 327 cases of the respiratory disease caused by the virus, including 14 deaths, the health ministry said on Sunday.

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