Egyptian pound devalued by 48 percent
Nov 04, 2016 07:09 AM Category: Africa
According to various articles, on 3 November 2016 Egypt floated its currency after a 48 percent devaluation of the Egyptian pound. With this move, the face value of its largest banknote, the 200-pound note (B337), falls to just US$13. Expect prices of modern Egyptian notes to be volatile until the market absorbs this unexpected move.