Currency Revaluation and Devaluation
The Egyptian pound saw a notable rebound against the US dollar as the new trading week began, driven by a surge in dollar availability
The LE is currently LE 49.89 against the greenback, down from yesterday’s close of LE 49.93. (May 22, 3 PM).
This is leading to a “lower roll-over of positions,” particularly as the finance ministry has until recently resisted raising yields at auction in order to keep the cost of borrowing down, said Goldman Sachs
