LE
The LE is currently trading at approximately LE 49.14 to the dollar locally, deepening the losses from October and reflecting broader economic challenges
The firm warned that continued unrest, particularly in Gaza and along the Israeli-Lebanese border, could perpetuate instability and investor concerns about Egypt’s economic outlook.
In the 24 hours after the Central Bank of Egypt's (CBE) decision to float the Egyptian pound on Wednesday, leading to a significant decline of 62 percent in value, the pound displayed resilience
JP Morgan expects that any currency adjustment will be accompanied by an increase in deposit interest rates by an additional 2 percent
The committee head stressed that certain requirements must be met prior to any devaluation or currency adjustment, emphasizing the need for a sustained decline in inflation rates.
In a research note seen by the news outlet, Morgan Stanely suggested Egypt implement a “phased devaluation of the pound in the short term, rather than a complete floatation of the exchange rate” rather than a free float
Foreign Policy published an article indicating that the Egyptian Economy is "collapsing," but they ignored the bold economic reforms the government made.
The dollar rate reached LE 17.55 for buying and LE 17.65 for selling at the National Bank of Egypt and Banque Du Caire.
The rate the sources cited would represent a slight strengthening of the pound, which is currently around 17.6 to the dollar.
The dollar rate reached LE 17.56 for buying and LE 17.66 for selling at the National Bank of Egypt and Banque Du Caire.
The dollar price was down by one piaster recording LE 17.56 for buying and LE 17.66 for selling at the National Bank of Egypt.
The dollar price was down by two piasters recording LE 17.57 for buying and LE 17.67 for selling at the National Bank of Egypt.
The dollar exchange rate remained stable, recording LE 17.59 for buying and LE 17.69 for selling at the National Bank of Egypt.
A wrap-up of the most prominent business news of the day
The dollar exchange rate dropped one piaster recording EGP 17.59 for buying and EGP 17.69 for selling at the National Bank of Egypt.
The US dollar exchange rate was relatively stable during morning transactions at major banks Monday.
