Ezz El-Din Hassanein, a banking expert and general manager of an Arab bank operating in the Egyptian market, predicted that the US dollar exchange rate will fluctuate during 2017 between EGP 16-20. According to Hassanein, there are several factors that will contribute to increasing the dollar price against the Egyptian pound in 2017. The dollar price could fall again and reach EGP 16 or slightly less when government and customer demands on the US dollar decline, according to Hassanein. He also expects 2017 to witness a severe decline in imports, which will provide dollar flow to Egypt instead of spending dollars abroad. All of these factors will help stabilise the dollar price until it reaches EGP 12, Hassanein said.

Source: Daily News Egypt January 21, 2017 17:28 UTC