70 Days
Source:
CNN Arabic
Egyptian pound gains on dollar as forex improves
The Egyptian pound has appreciated against the dollar, with the exchange rate at the country's largest state-owned bank falling below 49 pounds. This is supported by improved foreign currency inflows, especially increased remittances from Egyptians abroad, the return of some foreign investments in government debt instruments, and a rebound in the tourism sector. This improvement is expected to be temporary, as it is linked to external factors such as geopolitical tensions. Meanwhile, the country's reserves have risen to their highest level ever at $53.134 billion, strengthening Egypt's ability to meet its external commitments.
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