MIDEAST STOCKS-Egypt surges on expectations of currency devaluation | Reuters:
"Cairo's main stock index rose 2.9 percent on Monday on expectations of a further currency devaluation this fiscal year, while Gulf stock markets closed on a strong footing before the Eid al Fitr holidays.
On Sunday, Tarek Amer, Egypt's central bank governor, was quoted in local papers saying the currency should be a market based one where demand and supply will set the price.
Economists now believe it is inevitable there will be another currency devaluation in the current fiscal year."
'via Blog this'
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