EGP: Short-Term Downside Risks

April 2010
Emerging Markets Monitor;4/12/2010, Vol. 16 Issue 2, p18
Country Report
The article discusses the decline of the Egyptian pound (EGP) which could reach the 5.60 EGP per U.S. dollar level in April 2010 due mainly to the strong U.S. dollar versus the euro. However, the euro is expected to bounce back a bit when the debt crisis in Greece starts to settle. The three main aspects in pushing the pound upwards are also discussed which include a steady economic growth, current account surpluses and low inflation.


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