What was somewhat surprising, however, was that the monthly inflation rate exceeded expectations. This time, the impact could be slightly higher due to two additional factors: elevated global oil prices and exchange-rate movements. Higher global oil prices increase the country’s energy import bill, which in turn raises demand for foreign currency. These include global oil prices, foreign investment flows, geopolitical developments in the region, tourism revenues and remittances from Egyptians working abroad. The Central Bank could potentially use this tool again if it seeks to reduce liquidity in the market.

Source: Daily News Egypt March 14, 2026 16:44 UTC