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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 USD to EGP exchange rate has recently settled at approximately 47.22, marking a significant low over the past 90 days and 1.8% below the three-month average of 48.07. The currency pair has traded within a stable range, fluctuating only 3.1% from 47.22 to 48.69, suggesting limited volatility in the near term.

In the U.S., the US dollar's strength is largely attributed to a hawkish outlook from the Federal Reserve, which emphasizes the possibility of interest rate cuts being less likely than previously expected. Analysts suggest that upcoming speeches from Fed policymakers may provide further direction for the dollar. Additionally, the anticipated Consumer Price Index (CPI) report could influence future Federal Reserve decisions, potentially providing additional support for the USD if inflation continues to show signs of resilience.

Conversely, developments affecting the Egyptian pound include a recent 10.5% increase in domestic fuel prices, part of the government's broader economic measures to balance budget deficits. Despite this, the Central Bank of Egypt's decision to cut interest rates by 200 basis points indicates an effort to stimulate the economy amidst declining inflation rates, which fell to 12.7% in August. Such measures might bolster investor confidence and speculative capital inflows, leading to a supportive environment for the EGP.

Experts note that while the USD is benefitting from a strong Fed stance, the EGP is underpinned by domestic monetary policy adjustments and improvements in inflation metrics. This balancing act suggests that while the USD could see potential upward movement, the EGP may also retain its strength due to favorable economic indicators. As the current exchange rates rest near 90-day lows, participants in the currency market may consider monitoring these macroeconomic trends closely for implications on future transactions and investments.

 

US dollar to Egyptian pound - USD/EGP Trend

 
USD to EGP is at 90-day lows near 47.22, 1.8% below its 3-month average of 48.07, having traded in a very stable 3.1% range from 47.22 to 48.69
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1 USD =
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EGP
 
90dLows
1d−0.2%
 
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