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Egyptian pound price expected to drop by end of 2023

Since the Central Bank adopted a flexible exchange rate that reflects the state of supply and demand in the market.
28.04.23 | Source: Egypt Independent

In a poll published by Reuters, Thursday, economists expect that the value of the Egyptian pound against the US dollar will drop to LE34 by the end of December 2023.


According to the poll, the dollar will continue to rise to LE35 by the end of December 2024, and then to LE35.07 per dollar a year later.


The price of the dollar is trading in official banks near the threshold of LE31, after the Central Bank of Egypt floated the pound in March.


This was set requirement set by the International Monetary Fund.


 

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