Mursi's Brotherhood may pay price for Egypt currency fall


CAIRO (Reuters) - Life in Egypt is about to get harder for ordinary people who will bear the brunt of inflation caused by a decline in the value of their currency. As elections approach, President Mohamed Mursi's Muslim Brotherhood may pay a political price.

After a 3.2 percent slide in the Egyptian pound's value against the dollar this week, some importers and shopkeepers say they are factoring in an even bigger decline and that the uncertainty will be reflected in steep price rises.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Germany denounces rising political violence after MEP seriously hurt
India waits for details on arrests in Canada over Sikh separatist's murder
Vietnam police arrest former head of government office amid anti-graft crackdown
More migrant dinghies cross Channel to England despite Rwanda threat
Argentina's Milei says Spain's Sanchez brings 'death and poverty' after drug use jibe
Russian drones injure 6 in Ukraine's Kharkiv, Dnipro regions
NATO drills show it is preparing for potential conflict with Russia, Moscow says
Poland condemns Russian cyberattacks, says has been targeted too
Rwanda denies its troops attacked displaced persons camp in DR Congo
Russian suspected cybercrime kingpin pleads guilty in US, TASS reports

Others Also Read