Shorouk Economic Bulletin: Dollar Surpasses 55 Pounds; Central Bank Maintains Flexible Rate

The dollar's price against the Egyptian pound increased by 3.46% over the course of a week, officially surpassing the 55-pound mark for the first time in history, amid a decline of more than 3% in the stock exchange. The Central Bank governor stated that the flexible exchange rate policy will continue and that the recent movements are normal given the current circumstances, while forecasts suggest that the exchange rate could rise to 60 pounds by the end of the year.