Cairo – Mubasher: The valuation of US dollar (USD) against the Egyptian pound (EGP) is not the fair exchange rate, said President Abdel-Fattah El-Sisi on Thursday, expecting the market to regain balance within a few months.

“The current X-rate will not last for long. The fair value is not at EGP 17-18 per dollar”, the president highlighted during a speech marking the anniversary of Muhammad's birth.

The EGP-USD X-rate crossed 18 on early Thursday.

Earlier, the central bank’s governor Tarek Amer told Enterprise that the government will not intervene in the FX market again.