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Egyptian Currency Clampdown Clobbers Small Business

Egypt has become the victim of its own success in clamping down on the black market for foreign currency. A central bank decision to limit deposits of dollars made into bank accounts has created winners and losers within a country that suffers from a fundamental shortage of foreign currency following four years of political upheaval. The winner is the central bank itself, which capped hard currency bank deposits in February at $10,000 a day, up to a maximum of $50,000 a month. Since...

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