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EGYPT: Stock exchange to resume trading Sunday

February 7, 2011 | 12:22 pm

Egyptian financial officials say the country’s stock exchange will resume trading Sunday, a week after banks reopened.

The Associated Press reports that the delay appears to be part of attempts to cool investors’ fears and avoid a massive sell-off.

Those fears appeared to be well founded, the news agency said. The Egyptian pound hit a six-year low after banks reopened Sunday on an abbreviated schedule following a weeklong closure, dropping to about 5.95 to the dollar.

-- Alexandra Zavis

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