_1777352142843_145525226.png&w=64&q=75){kind=small}
Dollar exceeds 55 pounds Outlook unclear
The US dollar has risen against the Egyptian pound to reach a record level exceeding 55 pounds for the first time, due to increased demand for foreign currency and a decline in foreign investments caused by geopolitical tensions, rising shipping and energy costs. Experts expect the dollar to stabilize between 54 and 56 pounds in the coming period, with a possibility of falling to between 51 and 52.2 pounds if tensions ease and investment flows improve. However, persistent pressures could keep the exchange rate high. The main reasons include seasonal demand before Ramadan, declining investments due to tensions, as well as the impact of rising oil prices, a trade deficit, and the withdrawal of foreign investments.
Notice: This Is an AI-Generated Summary
Comments (0)