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  Tevet 20, 5773 , 02/01/13

Egyptian Pound Hits Record Low

Despite assurances by Egypt's leaders that they would not allow the country to slide further into economic crisis, the Egyptian pound hit a record low on Wednesday.  

The finance minister tried to downplay the currency plunge saying the pound would soon stabilize. However, many economists immediately dismissed his promise as too ambitious.

Other archived news briefs:Jan 02 2013, 07:39 PM, 1/2/2013