7 Hrs
Source:
CNN Arabic
Egypt Pound-Dollar Trend
The dollar in Egypt fell from a peak of more than 56 pounds in late October to around 54.17 pounds for buying and 54.27 for selling, before edging up again. Economists attributed its rise to the exit of about $3.5 billion in foreign investment from debt instruments, while the return of foreign inflows and easing geopolitical concerns helped drive it down. A banking expert forecast that it could approach 55 pounds amid demand from traders and importers and preparations for Ramadan, though the pressure may be seasonal. Exchange-rate movements remain tied to supply and demand and foreign-currency inflows.
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