Egypt devalues their currency

[pmbug]

Egypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency.

The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of its current $3 billion financial support package for Egypt.

The Egyptian pound was trading at roughly 50 to the dollar following the announcement, from 30.85 previously, according to LSEG data. The country's key interest rate now stands at 27.25%, the central bank said Wednesday.
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Egypt hikes interest rates by 600 basis points, pound crumbles to record low

Egypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency.

www.cnbc.com

Ouch!

 

[nickndfl]

They should lease the Great Pyramids to Starbuck's and KFC.

 

[Joe King]

They should lease the Great Pyramids to Starbuck's and KFC.

What they should do is open every ancient site to the public. Ie: full access, but for a price. Too much of that stuff is off limits.

 

[chieftain]

They should lease the Great Pyramids to Starbuck's and KFC.

Naming rights...