Reduced demand for Egypt's currency after three months of political upheaval has yet to be reflected in the exchange rate and this has begun to harm the economy, analysts say.
The unrest that began on January 25 chased away tourists and foreign investors and crimped exports, among Egypt's main sources of foreign exchange, and analysts say the central bank should allow the currency to depreciate to reflect the change.
Egypt drew down its foreign reserves by almost $6 billion in the first three months of this year to $30.1 billion at the end of March. It has also drawn down unofficial reserves by $7 billion.
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