Wondering why the Egyptian pound buys even less than it did before?
“Analysts believe the CBE move aims to contribute to a more favourable investment climate, and set the stage for the Egypt Economic Development Conference scheduled for mid-March.”
It is more important for foreign investors to be able to buy you at a good price, than for you to be able to buy bread.
http://weekly.ahram.org.eg/News/10189/18/De-facto-devaluation.aspx
External Context سياق خارجي
http://weekly.ahram.org.eg/News/10189/18/De-facto-devaluation.aspx