Egypt sees significant decline in US dollar exchange rate at the black market ...Egypt

The US dollar exchange rate in the black market witnessed a new decline by about LE20 on Saturday, falling to LE 43. It previousy declined to LE63 a week ago, following the government’s announcement of attracting new investments and the completion of the Ras al-Hikma deal, which fed the budget with US$35 billion. This latest decline came with Prime Minister Mostafa Madbouly’s announcement, during the government meeting last weekend, that Egypt had received five billion dollars from the first installment of the deal, and that the other five billion arrived on Friday. Madbouly indicated that measures have been taken to coordinate between the Central Bank of Egypt and the UAE’s side of the Ras

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