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Egyptian banks are lifting restrictions on customers' overseas credit card purchases, the latest indication that a foreign-currency crunch that crippled the economy is easing.The crisis began to abate in November, when the central bank floated the pound and raised rates, helping to secure a $12 billion International Monetary Fund loan that opened the door for foreign investors to return.Egypt's net international reserves have risen to their highest level in six years, while overseas holdings of Egyptian government debt have roughly tripled since January as investors returned after the float, which weakened the pound by more than half against the dollar.
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