Egypt strives to maintain economic stability amid high inflation, currency devaluation

Egypt Currency Devaluation 2025. Egyptian pound slides past EGP 30 against USD on Monday Economy Business Ahram Online With Cairo embarking on its fourth currency devaluation since early 2022, what are the latest Egyptian Pound forecasts and price predictions for 2024 and beyond? The new devaluation and interest rate hike will inflict further pain on Egyptians already struggling with soaring prices, said Hamish Kinnear, senior analyst at risk intelligence.

The Executive Board also concluded the 2025 Article IV consultation with Egypt. The Egyptian pound is expected to continue fluctuating throughout 2025, according to a recent report from BMI, the research arm of Fitch Solutions, with projections indicating that it will trade between EGP 50-55 against the USD

The EGP Devaluation A new beginning

It's a sign of greater flexibility for the pound, which saw long periods of stability after authorities in March enacted their fourth devaluation since early 2022, reported Bloomberg citing the. It's a sign of greater flexibility for the pound, which saw long periods of stability after authorities in March enacted their fourth devaluation since early 2022, reported Bloomberg citing the. By the end of the year, the currency is forecast to settle around EGP 52.5 per dollar.

Egypt Is About To Slash The Value Of Its Currency To Revive Its Flagging Economy. The currency fell to EGP 50.8 against the USD on the offshore market Thursday, the latest in an almost uninterrupted six-week streak of declines Why is Egyptian pound so weak today? The Egyptian pound is weak due to high foreign debt levels, which have led to a shortage of foreign currency.

Tellimer Egypt Currency devalued to combat rising external risks. Funds from the $3 billion December 2022 IMF loan package were never disbursed because the central bank never transitioned the pound from a fixed to a floating exchange rate as stipulated. It's a sign of greater flexibility for the pound, which saw long periods of stability after authorities in March enacted their fourth devaluation since early 2022, reported Bloomberg citing the.