Egyptian government bonds denominated in dollars jumped up to two years after the devaluation.
The price of the dollar in Egypt soared to unprecedented levels in the official market on Wednesday after the Central Bank raised its price to 26.49 against the pound in sale, and at £26.36 in sale.
And in the National Banks and Misr, the largest government banks in Egypt, the dollar recorded a price of 26.25 pounds in purchase and £26.3 in sale.
Exchange rate flexibility has been a key request from the International Monetary Fund, which in October approved a 46-month rescue package for Egypt worth $3 billion.
The dollar registered the highest price in the official market, in the Arab Investment Bank, 26.51 pounds in purchase and £26.55 in purchase, while he recorded £26.3 in purchase and £26.4 in purchase, a pound in sale in Commercial International Bank of Egypt’s largest private bank.
The dollar recorded the largest daily move since the central bank allowed it to fall 14.5% on Oct. 27, according to the data released.
It used to trade at 24.70 pounds to the dollar.
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