Refinitiv data showed that Egypt devalued its currency on Monday by the most in four months against the dollar, declining by more than 0.10 pounds to the dollar.
The pound traded at 19.62 per dollar, down from 19.49 at the start of trading.
Egypt's foreign currency has been running over the past six months, forcing banks and importers to race for dollars to pay for imports. This put pressure on the central bank to allow the pound's depreciation.
The dollar also disappeared due, inter alia, to the high cost of importing commodities, declining numbers of Russian and Ukrainian tourists, and the dollar's exit from Egyptian treasury bond markets.
The last time the central bank allowed the pound to decline at that rapid pace from May 22 to 25 was when it fell by 0.34 pounds against the dollar in the three days.
The pound reached a record low on December 21, 2016, when it traded at Pound19.80 per dollar, but recovered in the following years.
Egypt has been negotiating a financial assistance package from the IMF since March to help it support its financial situation. The Monetary Fund has long urged that more flexibility be allowed in the exchange rate.
