Cairo – Mubasher: The Egyptian pound has appreciated against the US dollar to the highest level since October 2016, the Minister of Planning and Economic Development, Hala El-Saaed, said.
The greenback has been sliding since June 2020 to settle at EGP 15.7 in February 2021, the strongest level in more than four years, El-Saaed added in a statement on Wednesday.
Moreover, the country’s net international reserves continued to increase for the eighth month in a row, registering $40.2 billion in February, compared to $40.100 billion a month earlier.
