Fitch confirms Egypt's exchange stability

Fitch Agency confirmed that the Central Bank of Egypt was able, during the Iran-U.S. war period, to test its commitment to a flexible exchange rate policy. It did not intervene significantly to prevent capital outflows or to support the Egyptian pound. Although the pound's value fell by more than 14% against the dollar at the start of the conflict, reaching a record close to 55 pounds per dollar, it then recovered to stay between 49 and 53 pounds. The monetary policies helped unify the foreign exchange market and restore foreign investment inflows, with foreign holdings of treasury bills and bonds reaching around $55 billion by the end of June 2026. There are also expectations of rising fuel prices and inflation in Egypt during the last quarter of the year.

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