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Why is the US dollar rising in Egypt? ...Egypt
Economists have attributed the recent rise in the US dollar against the Egyptian pound to a combination of domestic and international factors. These include the US Federal Reserve’s continued interest rate hikes, which have made the dollar more attractive to foreign investors, reducing inflows into emerging markets like Egypt. Additionally, the global surge in commodity prices, especially oil and gold, has put further pressure on the local currency as Egypt relies heavily on dollar-denominated imports to meet domestic demand. Furthermore, Egypt’s economy is grappling with a trade deficit, as the value of imports surpasses that of exports. This imbalance has intensified the demand for dollars
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