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USD likely to reach EGP 15.9 in H1-20 – Beltone analyst

USD likely to reach EGP 15.9 in H1-20 – Beltone analyst
The EGP rose to record levels on the back of cutting interest rates

By: Ahmed Allam

Cairo – Mubasher: The Egyptian pound exchange rate is expected to stand at EGP 15.9 against the US dollar during the first and second quarters of 2020, a senior analyst at Beltone Financial, Alia Mamdouh, said. 

On the sideline of a press conference held on Sunday, Mamdouh stressed on the importance of keeping the EGP steady at about EGP 16 to the US dollar in order to sustain the gains of the economic reform programme.

Over the first ten months of the year, the EGP rose to record levels on the back of lowering interest rates and the improved economic performance.

On 14 November, the CBE decided to lower interest rates for the fourth time in 2019.