Cairo – Mubasher: HC Securities and Investment expected that the US dollar's exchange rate will fall to EGP 15.72 in the current fiscal year.
It is expected that US dollar’s exchange rate will decline to EGP 15.38 in the FY18/19, HC added.
In case of the high inflation continues, this will lead to a decrease in the private consumption growth rate that will deteriorate EGP.
Egypt’s president Abdel-Fattah El-Sisi said that the foreign reserves of the Central Bank of Egypt (CBE) reach near to $35 billion.
