Egyptian pound plummets to record low amid economic struggles

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The International Monetary Fund has approved an $8bn loan to Egypt. • The country's Prime Minister says the deal will help restore economic stability. • The announcement came as the Egyptian pound plummetted to a record low against the US dollar. • Egypt's central bank has hiked interest rates by 600 points. • Devaluation was one of the IMF's key demands for Egypt. • • Al Jazeera’s Mohamed Vall reports. • • Subscribe to our channel http://bit.ly/AJSubscribe • Follow us on Twitter   / ajenglish   • Find us on Facebook   / aljazeera   • Check our website: https://www.aljazeera.com/ • Check out our Instagram page:   / aljazeeraenglish   • Download AJE Mobile App: https://aje.io/AJEMobile • • #Egypt #EgyptianPound #IMF #EgyptEconomy #EgyptEconomicCrisis #AlJazeeraEnglish

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