Egypt will not devalue the pound against the dollar, according to Atef Obeid, the country's prime minister at the end of December. His statement to parliament was designed to outline government policy and also calm fears of a hard currency shortage after black market dollar rates jumped.

Egypt has kept its currency pegged close to the dollar at around EGP3.40/$ since 1991. In the interim the Egyptian economy has strengthened and inflation plummeted. Bankers say the central bank is both reluctant

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: