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Egypt's central bank gov. resigns

CAIRO, Aug 17 (KUNA) -- Egyptian President Abdulfattah Al-Sisi has accepted the resignation of the central bank's governor Tareq Amer, thanking him for the efforts he exerted during his tenure, according to Egyptian TV.
The president has also issued a decree appointing Amer as a presidential advisor, the TV said on Wednesday.
Amer was appointed to his post in November 2015. In 2019, Al-Sisi renewed his tenure for four years.
The resignation comes as the Egyptian pound has been falling unprecedentedly against the US dollar.
In March, the Egyptian central bank allowed the country's national currency to depreciate more than 14 percent from 15.7 pounds to the US dollar, the rate at which it had traded since November 2020.
By devaluing its pound, Egypt sought to boost the competitiveness of its exports and better position itself for a new loan from the International Monetary Fund (IMF). (end) asm.mt