Egypt needs to depreciate its currency again: Bloomberg ...Egypt

Bloomberg news agency reported that the increasing pressure on the Egyptian economy has led the largest banks in the world to believe that Cairo needs to depreciate its currency again. Greater flexibility of the Egyptian currency is required in light of Cairo’s pursuit of a new loan from the International Monetary Fund, the agency stated. Bloomberg referred in a report to the inevitability of the devaluation of the Egyptian pound. The agency cited analyzes of Deutsche Bank, Goldman Sachs and Citigroup, which said that the Egyptian currency was overvalued, even after devaluing it by more than 15 percent in March. The high prices of oil and commodities significantly affected Egypt, which is th

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