Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement
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Authorities in Egypt recently allowed the local currencys exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis points. Both steps were key conditions set by the IMF which Egypt had to meet before the approval of a new financial aid package. IMF [] Source: Bitcoin.com
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