#foreign reserve
The Egyptian pound reached a new low of EGP 30 to the US Dollar on the morning of Wednesday, 11 January, according to the exchange rate of the Central Bank of Egypt (CBE). As of the date of this article, the Egyptian Pound is trading at EGP 31.75 against the US Dollar. Less than a week prior, the Egyptian pound dropped to 27.25, marking the most severe devaluation since October 2022. This is yet another indication of the country’s severe…
