Egypt Pound Hits New Low as Fears Mount Over Prolonged Iran War

Egypt’s currency weakened to another record low, as fears grew over possible further escalation in the US-Israeli war against Iran.

The pound fell 3.4% to 54.6 per dollar on the offshore market on Monday, the biggest decline in three weeks. It’s the world’s worst performer since the conflict erupted on Feb. 28, according to data compiled by Bloomberg.