Cairo-Mubasher: The increase in the number of ships crossing the Suez Canal, following the launch of the new canal will have a positive impact on Egypt’s balance of payments, said a recent research note compiled by Pharos research.

The average monthly revenues of the Canal stood at USD 423.4m in H1-15, noted Pharos.

Accordingly, Pharos eyes Q3-15 revenues to assess the potential impact on FY-16 Canal foreign currency inflows and hence on the near-term outlook for the USD/EGP.