Hanan Ramsis, an expert in the Egyptian stock market, confirmed that the recent measures taken by the government confirm that the monetary policy that the central bank will pursue during the coming period is to stabilize the interest rate and the exchange rate of the pound against the dollar.She said in connection with “
Sputnik“Today, Wednesday, Egypt’s review with the International Monetary Fund was postponed twice in a row, and the postponement process was not because the measures taken by Egypt are insufficient, but Egypt is taking strong and good measures to provide foreign exchange to pay obligations on time, and this matter will stop the devaluation of the pound against the dollar.
Ramses added that talk of a new movement of the exchange rate is unexpected, given that dollar receipts are increasing due to many measures taken by the state in the recent period to develop its foreign exchange earnings.
Source: Sputnik
