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Egypt's Currency Black Market Under Threat as Confidence Rises

Egypt's currency black market is under threat from two directions, as aid from wealthy Gulf states promises to ease a dollar shortage and an increasingly confident central bank engineers a gradual depreciation of the Egyptian pound. Since the 2011 revolution ushered in three years of political and economic turmoil, a gap has opened up between the pound's official market rate and the weaker rate at which it trades in illicit money changing shops and back alleys. The...

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