Is the Egyptian pound facing new losses? ...Egypt

Fitch Solutions revealed its expectations for the US dollar exchange rate against the Egyptian pound during the current fiscal year 2024-2025, which ends on June 2025. The institution explained that there are two scenarios for the exchange rate, one optimistic and the other pessimistic, according to the development path of escalating tensions in the region. The optimistic scenario depends on rapid calm, such as a ceasefire in Gaza, a much needed positive shock for the Egyptian pound as it would pave the way for the return of gradual navigation in the Red Sea and improve tourism. This would cause the pound to strengthen towards the range of its previous expectations between LE 46.50 and LE 48

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