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lizzy97

Egypt raises currency value amid disruptive dollar shortage - 1 views

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    Egypt's central bank has strengthened the pound for the first time since 2013. It has injected dollars into a banking system that has been suffering from an acute foreign exchange shortage. This relates to our unit as we see Egypt strengthening their pound through government intervention. This means they are reevaluating their currency. This means they will reap the benefits of having a high exchange rate (downward pressure on inflation, more imports can be bought, domestic producers improve their efficiency, etc.) but they of course will suffer some consequences as well (damage to export industries and to domestic industries).
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