Amer added that the pound’s rally is a good sign of the Egyptian economy’s recovery. The pound was steady on Thursday’s trading against the dollar in most Egyptian lenders. The green benchmark lost 20 piastres against the Egyptian pound on Tuesday. Amer also noted that hiking the interest rate by 2% was a step to tame inflation and to maintain the purchasing power of the Egyptian pound.

Source: Daily News Egypt July 08, 2017 15:22 UTC