The Central Bank of Egypt said Tuesday that the Egyptian pound was trading at 6.20 per U.S. dollar compared to 6.00 during the first half of the year.
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Egypt faces the threat of a currency crisis after the Egyptian pound hit its lowest level in eight years.
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About 12 million holiday visits are made from the UK to Spain each year, dwarfing Turkey and Egypt combined, and it is silly to assume that that will be ravaged by a weak pound.