One of the conditions required Egypt to float their currency…the immediate results were high prices and…a sudden widening of the exchange rate between…the black market and the Central Bank of Egypt’s currency rate…The value of the Egyptian pound dropped by nearly 50% last Thursday however in the long term it is hoped…floating the currency will control inflation…Egypt has been running desperately short of foreign currency. Iraq does not have this problem…Iraq foreign currency reserve is now over $96 billion... [Post 2 of 2]
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