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Saudi and the “petroyuan”, investors like EGP fall

Comments by Saudi Arabia’s finance minister that the Kingdom could conduct trade in currencies other than the dollar will add fuel to the debate about the rise of a “petroyuan”. There are hurdles to the plan, but it adds to signs that, in a fractured global economy, Saudi may lean towards a China-led bloc. Elsewhere, there are growing signs that the recent falls in the pound have enticed foreign investors back to Egypt.

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