1 Day
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Dollar decline shown in futures
The decline in the US dollar's exchange rate against the Egyptian pound is not considered a passing movement, as it coincides with an improvement in the futures contracts and a decline in the global US dollar index. Additionally, there has been a limited return of foreign investors to buy shares in the Egyptian stock market. The official exchange rate has ranged between 51.05 and 52.19 pounds, with dollar futures contracts decreasing by approximately 2.7% in June to an average of 57.69 pounds for the one-year horizon. This decline is presumed to reflect an improvement in economic balance and confidence, but it does not imply the end of structural pressures, as the current account deficit and trade balance remain ongoing issues.
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