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بوابة الشروق
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Source: بوابة الشروق
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Source: بوابة الشروق
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Goldman Sachs said the Egyptian pound is about 30% undervalued and forecast that the dollar would reach 53 pounds in three months, 52 in six months and 50 in 12 months, compared with its previous forecasts of 49, 48 and 46 pounds, respectively. The bank attributed the pound’s return to fair value to improved market confidence that the escalation in the Middle East would be contained. It maintained its recommendation to buy the pound to benefit from its appreciation and high interest rates. The bank also said foreign holdings of local debt instruments had fallen to around $20 billion, from $30 billion at the end of September.
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