Goldman Sachs: Egyptian pound undervalued by 13-15%

Goldman Sachs has stated that the real exchange rate of the Egyptian pound is undervalued by approximately 13 to 15% relative to its fair value. It is estimated that the fair value of the pound should be around 43 pounds per dollar, compared to the current rate, which is expected to reach 46 pounds within 12 months. The bank confirmed that Egypt's foreign exchange reserves, which slightly below $61 billion as of May, provide substantial support for the currency, with expectations for its value to rise before facing pressure due to a potential funding gap at the end of the year.

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