Bloomberg Agency commented on the news of the Egyptian pound’s depreciation against the dollar to about LE30 on Wednesday, stating that the Egyptian pound has fallen by more than 25 percent, in just one week, in accordance with an agreement with the International Monetary Fund, which stipulates leaving the price flexible according to supply and demand. According to the agency, the continuous decline in the local currency comes at a time when it has been suffering severely in foreign currency shortage since the outbreak of the Russian-Ukrainian war in February, and raising US interest rates over the past year, which led to the exit of more than $20 billion of foreign hot money invested with d
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