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New floating-rate notes see significant success

By Hend El-Behary The Ministry of Finance has received offers equating to EGP 2.5 billion for the first Floating-Rate Note (FRN) ever issued in Egypt. The move comes in the context of the ministry’s strategy to diversify public debt instruments, according the ministry’s press release. FRN are bonds with a variable interest rate. The adjustments …

Daily News Egypt

USD exchange rate skyrockets

Few days after president ‘s statement that the Egyptian Pound will not be devaluated, the exchange rate of the US dollar rises against the Egyptian pound to hit its highest level since 2004

Daily News Egypt

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