The Egyptian pound slipped further against the dollar on Wednesday, after Egypt’s Central Bank raised its main interest rate and devalued the local currency by 14 percent. The moves by the Central Bank of Egypt came to face inflationary pressures triggered by the coronavirus pandemic and Russia’s war in Ukraine, which hiked oil prices to record highs. Banks were selling the US currency at more than 18.5 pounds while buying it at over 18.45. That’s up from an average of 15.6 pounds for $1 before the central bank’s decision on Monday. The central bank increased the key interest rate by 100 basis…

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