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Egyptian pound Markets

EGP Currency Update - Our review of Egyptian pound forecasts and news plus charts and historic rates. Check EGP Trends over various time periods.

 

The recent strengthening of the US dollar (USD) has been driven by positive labor market data, with the non-farm payrolls surpassing expectations in June, printing at 147,000 and supporting a drop in the unemployment rate. Analysts note that a robust job market can reinforce expectations for continued Federal Reserve (Fed) interest rate hikes, which typically attract investment and bolster the USD's strength.

Current sentiment in the currency markets is influenced by the USD’s safety as a reserve currency during uncertain times, especially amidst geopolitical tensions and market volatility. Any increase in investor demand for US Treasury bonds can further enhance the dollar's value. Additionally, rising oil prices tend to boost demand for the USD due to its central role in global commodities trading.

Looking at the USD to Egyptian pound (EGP) exchange rate, it is currently trading near 49.34, approximately 1.9% below its 3-month average of 50.32. The rate has experienced relatively stable movement, ranging between 49.34 and 51.67 over the past 90 days. Forecasters suggest that sustained economic performance in the US, along with Fed policy decisions regarding interest rates, will continue to play a crucial role in shaping the dollar's value against the EGP.

While the USD shows strength, experts caution that a widening trade deficit and fluctuating global sentiment could present challenges. Therefore, businesses and individuals engaging in international transactions should stay attuned to economic indicators and geopolitical developments that may impact the exchange rates.

 

US dollar to Egyptian pound - USD/EGP Trend

 
USD to EGP is at 90-day lows near 49.34, 1.9% below its 3-month average of 50.32, having traded in a quite stable 4.7% range from 49.34 to 51.67
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Compare & Save on Exchange Rates

Exchange rates can vary significantly between banks and currency exchange providers, so it's important to compare rates from different sources before making a conversion.

The below table makes it easy to calculate and compare the Total Cost you are being charged on currency rates and the possible savings of using a foreign exchange provider rather than your bank.

 

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