The Egyptian pound continued to fall Thursday after reaching a six-year low against the US dollar Wednesday.
The third day of popular unrest has increased demand for the dollar in Egypt, as protesters call for drastic political and economic reforms.
The head of the money exchange sector at the Federation of the Egyptian Chambers of Commerce, Mohamed al-Abyad, told reporters on Thursday that the US dollar purchase price is LE5.84, with the selling price reaching LE5.86, marking its highest rate in six years.
Al-Abyad said the surge in dollar prices helped increase demand for Arab and foreign currencies since today's stock market opening.
The stock market index had plummeted more than 6 percent from its open Thursday, following extensive sales of leading stocks by foreign investors who, experts say, were concerned with the country's political instability.
Shares took a collective dive Wednesday, resulting in LE29 billion in losses.
