A man counts U.S dollars at a money exchange office in central Cairo, Egypt, December 27, 2016. REUTERS/Mohamed Abd El Ghany
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Back in early November, Egypt and Nigeria were in the same situation, crying out for dollars to revive their sinking economies and trying to curb rampant currency-trading on the black market.It has started to rebound, gaining 16 percent this month, which is the best performance among 154 currencies tracked by Bloomberg.Egyptian Assets RallyingEgypt's stocks, local-currency bonds and dollar debt have all performed better than Nigeria's this year. The EGX 30 Index has climbed 11 percent in dollar terms, the best performance in Africa. Not All Good for EgyptPrices have rocketed in Egypt, with inflation reaching 28.1 percent in January.
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