19 Hrs
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المصري اليوم
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Hani Genena on dollar trend
Economist Hani Genena discussed the reasons behind the temporary rise in the dollar rate, explaining that the main cause is the increase in shipping costs and the price of imported goods, especially petroleum products and natural gas. He added that there is also pressure on the current account balance due to companies importing stock that was stored before the war. He confirmed that this rise is related to the war and will disappear once stability is restored, with the normal exchange rate remaining between 48 and 50 pounds. He clarified that foreign inflows are emerging confidently in the Egyptian economy, and that the Central Bank has effective tools to manage the exchange rate. He also stated that the current increase does not justify price hikes by traders, and that the market will recover soon with the return of stability.
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