Hany Ghonein: Dollar surge due to shipping costs
Economic expert Hani Genayna clarified that the rise in the dollar's price is temporary and is due to increased shipping costs and the cost of imported goods, especially petroleum products and natural gas. He also pointed out that there is pressure on the current account balance because companies are importing stored inventories they held before the war. He predicted that the normal exchange rate will return to around 48-50 pounds as stability is restored, and that the Central Bank has the tools necessary to absorb these shocks. Additionally, he emphasized that the dollar's increase does not justify a permanent rise in prices, and that the market will regain its stability soon.
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