black market
One of them sustained losses of LE 712 million “for unknown reasons.”
Egyptian government has set the price of local wheat according to the price of imported wheat in order to battle the existence of a black market.
Egypt’s foreign reserves rose by some $18 billion in 14 months, or since the country floated its currency in 2016, to record $37 billion in December 2017.
Security bodies seized 54 tons of wheat and flour before being sold on the black market.
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