Egyptian Pound Continues Decline

1. Egyptian Pound
Continues Decline
PABLO SORIA DE LACHICA

2. Egyptian Pound Continues Decline
 Pablo Soria de Lachica is the director of business development for Bforex,
a leader in foreign exchange education and online trading. In his five
years with the company, Pablo Soria de Lachica helped develop the
“Forexperts” program and the PROfit trading platform, two unique
customer service tools. He earned his master of business administration
from Universidad Tecnologica de Mexico.

3. Egyptian Pound Continues Decline
 The Egyptian pound continues to struggle as a result of a currency crisis
that struck late last year. The central bank of Egypt conducted its second
foreign exchange auction, selling $38.4 million to banks around the world,
with the exchange rate remaining unchanged at 6.972 pounds on the
dollar. Foreign exchange analysts have speculated that the Egyptian
government is doing all they can to prevent the pound from falling to far
below 7.00 to the dollar, but the downward trend continues. Since the
crisis started, the Egyptian pound has dropped in value by 11 percent.