Egyptian pound

HC Expects Interest Rates to Remain Unchanged at the August 20 Monetary Policy Committee Meeting

Heba Mounir, Macro Analyst at HC Securities & Investment, commented that Egypt’s external position is still relatively resilient, in our view, despite intermittent regional geopolitical turbulence, as evidenced by the following: (1) Egyptian banks’ net foreign assets (NFA) widened significantly by USD5.04bn m-o-m to USD27.995bn in June from USD22.957bn in May, due to a major increase of USD4.81bn m-o-m in…