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Saturday, February 12, 2011
Egyptian currency markets working "normal"
Egyptian currency markets operate normally, according to Deputy Governor of Central Bank of Egypt Hisham Ramez told the BBC.
Ramiz said that the central bank had to intervene earlier this week to ensure the stability of the markets, but foreign investors have returned to participate in the speculation, and observers believe that the central bank had injected one billion dollars at least in the markets in order to maintain the value of the pound.
However, in the opinion of experts from the International Foundation UBS Financial Services that the value of the Egyptian currency could fall by 25 percent within a month.
Egyptian currency markets working "normal"
Egyptian currency markets operate normally, according to Deputy Governor of Central Bank of Egypt Hisham Ramez told the BBC.
Ramiz said that the central bank had to intervene earlier this week to ensure the stability of the markets, but foreign investors have returned to participate in the speculation, and observers believe that the central bank had injected one billion dollars at least in the markets in order to maintain the value of the pound.
However, in the opinion of experts from the International Foundation UBS Financial Services that the value of the Egyptian currency could fall by 25 percent within a month.
