CAIRO (Reuters) – The Egyptian pound hit its highest level in more than three weeks on Wednesday, a day after data indicating a jump in consumer price inflation. Refinitiv data showed that the Egyptian pound reached a level of 18.38 pounds against the dollar today, slightly higher than the level of 18.43 recorded on Tuesday. The last time the Egyptian pound touched this level was on April 17. Data from the Egyptian Central Agency for Public Mobilization and Statistics showed yesterday that consumer price inflation in Egyptian cities jumped to 13.1 percent on an annual basis in April. The value of the currency fell 14 percent on March 21, after about a year and a half, with little change.
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