Cairo – Mubasher: Capital Economics for independent macroeconomic research said in a report that the exchange rate of the Egyptian pound is expected to drop against the US dollar to EGP 19 by the end of 2019.
The company highlighted the Egyptian government’s intervention since March 2017 to maintain the stability of the Egyptian pound at EGP 18 against the US dollar.
The report added that the US dollar has reached EGP 17.7 in the past few weeks, expecting the ascending pressure on the Egyptian currency to continue.
Capital Economics forecasts inflation in Egypt to decline sooner than expected.
