Customers count Egypt pounds to buy U.S. dollars in a foreign exchange office in central Cairo, Egypt December 27, 2016. REUTERS/Mohamed Abd El Ghany
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The Egyptian pound can attain its "fair value" in about six months, President Abdel-Fattah al-Sisi said, trying to reassure his anxious nation that a price surge since the abandonment of currency controls is temporary. In a new sign of support for the central bank's Nov. 3 decision to free the exchange rate, Sisi said the currency was weaker than it should be, but should strengthen as reforms take hold. The interview, his first with the state-run media this year, comes as rising prices exact a new toll on a country whose economy has been struggle to revive since the 2011 uprising that ousted President Hosni Mubarak.
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