Mohamed Mehrem, director general of the treasury at one of the private banks operating in the Egyptian market, predicted that the Egyptian pound’s rate will improve against the US dollar at the beginning of the second half (H2) of 2017. Apart from the expectation, as Mehrem says, there are several factors that could positively affect the price of the pound against the dollar. Donald Trump becoming the US president and his positive attitude towards Egypt may enhance the chances of US investment during 2017. His presidency will help refute rumours that American institutions are trying to bring Egypt down, Mehrem added. He added that people must be optimistic to a large extent on the ability of the Egyptian pound against the dollar to improve its rate in 2017.

Source: Daily News Egypt January 21, 2017 17:36 UTC