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

Slovak PM Fico stable but in serious condition
Ukraine struggles to hold eastern front as Russians advance on cities
Eight arrested after climate activists breach German airport
Libya's eastern government investigating disappearance of lawmaker
Fifty dead in heavy rain, floods in central Afghanistan, official says
Honey, I love you. Didn’t you see my Slack about it?
Australians stranded in New Caledonia 'running out of food' amid civil unrest
The architects of ‘Hades’ strive to bewitch gamers again
Peru protesters slam new insurance law that deems transgender people mentally ill
A pithy YouTube celebrity’s plea: Buy this video game

Others Also Read