Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Toddsterpatriot
Unless the Egyptian currency is linked to the dollar, a weaker dollar wouldn't make their food more expensive.

The Egyptian Pound may or may not be formally linked to the US Dollar, but the exchange rate has been roughly 5.5 EGP per USD, plus-or-minus 5% for the last five years.

The exchange rate has been rising recently, meaning it takes more EGP to buy a USD, making it even more difficult to buy dollars to pay for things that are priced in dollars, whose price in dollars is also increasing.

36 posted on 01/31/2011 6:13:54 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 23 | View Replies ]


To: DuncanWaring
The exchange rate has been rising recently, meaning it takes more EGP to buy a USD

So the blame for higher prices belongs to the Egyptian Pound, not the US Dollar.

38 posted on 01/31/2011 6:24:09 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 36 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson