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Egypt’s currency hit a record low amid regional conflict, hurting trade and triggering global market losses.
The Egyptian pound hit a record low of 52.15 to the U.S. dollar amid regional instability from the expanding Israel-Iran conflict, disrupting global trade and energy flows.
The Suez Canal and Strait of Hormuz saw reduced shipping activity, hurting Egypt’s foreign currency earnings.
President al-Sisi declared a near-emergency state over inflation and economic strain, though reserves remain stable at $52.7 billion.
Global crude prices surged, with Brent rising to $92, as investors fled emerging markets, triggering a $3 trillion loss in global equity value.
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La moneda egipcia alcanzó un mínimo histórico en medio de un conflicto regional, perjudicando el comercio y provocando pérdidas en el mercado global.