There is no voice louder than that of the Egyptian pound’s flotation, the increase of the US dollar price, and its impact on the economy generally. With the change of the exchange rate day after day, the expectations of analysts and financial managers are different and are reviewed on a monthly basis with several scenarios to deal with the dollar price. An additional scenario expects the dollar to increase, and a final scenario expects it to drop somewhere near EGP 16. He added that based on the dollar price in each phase, companies will activate the appropriate scenario. Then they would rather direct a large quantity of their production to foreign markets rather than local markets to obtain dollars to finance production costs or future plans.

Source: Daily News Egypt January 21, 2017 19:17 UTC