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Asharq Al-Awsat
Asharq Al-Awsat
Business
Cairo - Asharq Al-Awsat

FOUND: Gap shrinks between egypt s official black market dollar prices - What They Never Told You

An employee counts US dollars at a foreign exchange office in Cairo. (Reuters)

The gap between the official and black market price of dollars in Egypt has narrowed significantly since the central bank announced a flexible exchange rate policy.

On Thursday, Cairo announced a $3 billion International Monetary Fund deal with a commitment to a “durably flexible exchange rate regime.”

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