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      Free Daily Israel Report
      Archive: 1/2/2013
      19:39
      Reported

      News Brief

        1/2/2013, Tevet 20, 5773

      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.