#Egyptian pound
3 articles with this tag
EconomyEconomic Expert: Egyptian Pound to Stabilize Between LE 54-57 Amidst Global Tensions
Economist Mohamed Anis predicts the Egyptian pound will stabilize against the US dollar between LE 54-57 in the next two months, attributing recent stock market declines to liquidity-seeking sales for the Banque du Caire IPO and foreign investment exits.
EconomyCBE Governor Defends Flexible Exchange Rate Amidst Historic Pound Depreciation
CBE Governor Hassan Abdalla defended Egypt's flexible exchange rate policy after the pound hit a historic low against the US dollar. He urged the public to understand currency fluctuations in light of global and regional developments.
EconomyUS Dollar Surges Against Egyptian Pound, Exceeding 54 EGP in Banks
The US dollar saw a significant jump of approximately 60 piasters against the Egyptian pound in local banks on Monday, with rates reaching up to EGP 54.45 for buying. This rise is expected to increase the cost of imported goods, potentially leading to a 10% price hike for some items.