24 Hrs
Source:
الموجز
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Dollar Gains 4 Pounds
The dollar rose against the Egyptian pound by about EGP 4.05 in October 2026, reaching EGP 55.99 to buy and EGP 56.09 to sell on October 29, compared with EGP 51.94 and EGP 52.04 at the end of September. The report attributed the pressure to an outflow of around $3.5 billion in foreign short-term investments over two weeks, as well as geopolitical tensions and other market factors. Expert Mohamed Anis expects the dollar to trade between EGP 54 and EGP 56, with a chance of exceeding EGP 56 if oil rises above $120 a barrel, tensions escalate, and U.S. interest rates climb above 4.25%. Mohamed Badra, meanwhile, said a decline to EGP 46 in 2027 remains possible if conditions improve and foreign inflows return.
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