Egypt's consumers and stocks are feeling pressure after skyrocketing inflation in June.
The VanEck Vectors Egypt Index exchange-traded fund (EGPT) was down 2% Monday in midday trading. According to sources at Reuters, the import-dependent nation's core inflation could rise to 35 percent over the next four weeks unless the Egyptian pound improves.
The ETF invested in Egypt is up about 2% in 2017, but Egyptian financial Commercial International Bank (CBKD.UK and CIBEY) is up 29% in U.S. and UK trading. The bank, however, was down fractionally in recent U.S. trading.
The trends are expected to continue worsening.
Read more at Barron's.