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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Egypt Devalues Its Pound, Loses Over 50% Against US Dollars (28160 Views)
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Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by blamingthedevil: 1:09pm On Mar 06 |
Egypt 🇪🇬 devalues its pound, loses over 50% against US Dollars Cash-strapped Egypt allows its currency to fall sharply against the dollar and hikes interest rates https://uk.news.yahoo.com/cash-strapped-egypt-allows-currency-102832799.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADz98vjP7qJCBuBxZD3ifOp9jw2vvOGy9AfX_3_Gq_vCzHty8sFpu0BXVpPIm8f8QLaW0JRyu5dcNYKUA4etQ3TBv8KPMfH-th2FBhtBWLTvq-9OjHDF3KAgczTjOit1UXtjRiGfUEIPScnrag4cASrG8oNWwolQvn032-8J3xSV 105 Likes 6 Shares
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Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by money121(m): 2:20pm On Mar 06 |
Lobatan 16 Likes 1 Share |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by LegendHero(m): 2:21pm On Mar 06 |
Everyone following in Tinubu footsteps. I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too. The Central Bank of Egypt said its measures Wednesday would help end the black market in currencies and slow inflation, which reached unprecedented levels in recent months. The annual inflation rate was over 31% in January, according to official figures. 158 Likes 8 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by DCmonster: 2:21pm On Mar 06 |
One terrible thing about APC and their supporters is that they always look for means to justify the hardship they keep dumping on Nigerians. Their supporters are so wicked and wretched that they want all Nigerians to live their impoverished life. They blame car dealers, market women, traders and anyone for the country Economic and hunger problem but never blame the Government. If Egypt currency is devalued by 50% which is about 1pounds to 50 dollars it is still far valuable than Naira. Nairaland is unofficially owned by APC 214 Likes 28 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Godjone(m): 2:21pm On Mar 06 |
Useless agbado miscreants report here now Modified: See the useless charlatans below. They are here already to justify the hardship brought upon them by thuvb 59 Likes 4 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Mrchippychappy(m): 2:22pm On Mar 06 |
Na this kind news Apc dey use as positive. 125 Likes 9 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Larwin(m): 2:22pm On Mar 06 |
Ok 2 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Analyst7: 2:22pm On Mar 06 |
Is this even a good or bad thing 1 Like |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Seequadry(m): 2:22pm On Mar 06 |
Th whole world is reshaping..... Hopefully Nigeria reshaped to positivity Buying bread at ₦1500 is not a good thing.... Spending 2k on a regular breakfast as a common tally clerk is depressing.... Ramadan is here... Please help me O'Lord 25 Likes 2 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Daniel7543: 2:22pm On Mar 06 |
God bless Asiwaju Ahmed Bola Tinubu May he live long to achieve his plans he has for Nigeria. 3 gbosa for Jagaban. Gbosa Gbosa Gbola 39 Likes 11 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by RoeEvi(m): 2:22pm On Mar 06 |
This shouldn’t be an excuse for Nigeria and her citizens. 27 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Tap0lane: 2:22pm On Mar 06 |
80 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by mrvitalis(m): 2:22pm On Mar 06 |
Now that's how to float a currency... You devalue set it to a value you can defend for a while toll market forces kick in I hope APC can see how you float It's sure 99% of them won't even understand this 14 Likes 1 Share |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by samogo1: 2:22pm On Mar 06 |
They must have things in place already. Not just doing stuffs without plans 9 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Natbrowny: 2:22pm On Mar 06 |
E affect us how. Mtchewwww |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Error401: 2:22pm On Mar 06 |
This will be a good news to the APC urchins. They find all negative news to defend their stupidditty. I'm not sure people who supports APC have a mind of their own. You cantt be that delusional just for free. 18 Likes 2 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Tap0lane: 2:22pm On Mar 06 |
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Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Westerhoffe(m): 2:22pm On Mar 06 |
It's coming harder for Africa… Joining BRICS may be the next option… well, I don't know… 4 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by chykmoni(m): 2:23pm On Mar 06 |
Ok |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by CuriousX: 2:23pm On Mar 06 |
Agbadorians looking for everything to justify the great Tinubulation Nigerians are going through ![]() 7 Likes 1 Share |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by MagicalConcepts(f): 2:23pm On Mar 06 |
Nigeria must be better. Patronize home made products 4 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by malali: 2:23pm On Mar 06 |
It was Arab spring. Now its dollar spring. and it is worldwide. 2 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by Burshh: 2:23pm On Mar 06 |
It is time for some mutual review between both countries. These are two of the largest economies in Africa FGS. 4 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by 4ward4: 2:23pm On Mar 06 |
LegendHero: Bring forth the way and the world will gladly follow.But so far so good, the USA dollar have gotten a universal acceptance rating. 4 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by b3llo(m): 2:23pm On Mar 06 |
LegendHero:we are getting there gradually. 4 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by OgbanjeProphet: 2:23pm On Mar 06 |
They couldn't learn from Nigeria ![]() ![]() ![]() ![]() ![]() 2 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by FreeStuffsNG: 2:24pm On Mar 06 |
RoeEvi:Smh. Nigeria is not giving excuses, we can't keep using our hard earned forex to keep defending our naira against US dollars overvalued on the street and disgraced Binance by unpatriotic criminals. All the enemies of Nigeria will lose las las. They will always lose. God bless Nigeria for ever! Check my signature for free stuffs! 18 Likes 2 Shares
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Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by toprealman: 2:25pm On Mar 06 |
This is the country Reno is using to justify why Nigeria should be happy Ukraine, a country fighting for survival, is donating grain to them. How can you be feeding on the reserve of a man bleeding and you are happily bragging about it ? 8 Likes 2 Shares |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by LegendHero(m): 2:25pm On Mar 06 |
mrvitalis: So what is the value Egypt CBN set it to? Abi you dey read another news? The Egyptian pound slipped sharply against the dollar on Wednesday after the Central Bank of Egypt raised its main interest rate and said it would allow the currency's exchange rate to be set by market forces. 11 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by funmike83(f): 2:25pm On Mar 06 |
lol |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by NotProphet: 2:25pm On Mar 06 |
LegendHero:It's a shame u don't even understand the post🤦‍♂️🤦‍♂️ 4 Likes |
Re: Egypt Devalues Its Pound, Loses Over 50% Against US Dollars by dreamwords: 2:25pm On Mar 06 |
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