Zawya - News: The Egyptian pound rises against the dollar to its highest level since the start of the war.

Amna Assem

The Egyptian pound's exchange rate against the dollar has risen to a record high, trading below 48 pounds to the dollar since July 5.

On Monday, the dollar was priced at 48.87 Egyptian pounds for buying and 48.97 for selling in Egyptian banks, according to data from the London Stock Exchange Group.

The pound closed at 48.88 for buying and 48.98 for selling on Sunday, according to data from the London Stock Exchange Group.

The dollar was trading around 47 Egyptian pounds before the war broke out at the end of February. Egypt suffered an outflow of hot money as a result of the war before it began flowing back again with the easing of tensions.

(Prepared by: Omnia Assem, Reviewed before publication by: Yasmine Saleh, Contact: zawya.arabic@lseg.com )

#Economic News

To subscribe to our weekly report covering economic news developments, register here.

Zawya platform disclaimer
Articles on the Zawya platform are provided for informational purposes only; the content does not offer any legal, investment, or tax advice, nor does it provide opinions regarding the suitability, profitability, or strategy of any investment or business portfolio . Terms and conditions apply.

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.