Fitch Praises Egyptian Pound’s Improved Performance Against US Dollar

Egypt’s currency is showing renewed resilience, with Fitch Ratings highlighting a notable improvement in the Egyptian pound’s performance against the U.S. dollar. 

The agency credited the rebound to a series of stabilizing economic factors, including stronger foreign direct investment inflows, higher foreign currency reserves, and a rise in portfolio investments.

As of Thursday’s trading, the Egyptian pound stood at 48.13–48.26 against the U.S. dollar, while the euro was quoted at 56.96–57.13 and the British pound at 65.73–65.92. Market analysts noted that these ranges reflect both improved liquidity and stronger investor sentiment.

According to Fitch, these developments have helped bolster market confidence and reduce immediate pressures on Egypt’s exchange rate. The agency added that the currency is expected to remain relatively stable in the near term, a trend that could ease concerns among importers and multinational companies operating in the country.

The positive outlook comes as Egypt continues to push forward with structural reforms aimed at strengthening investor confidence and improving liquidity. Economic analysts note that sustained foreign investment flows will be key to maintaining this stability, especially as global markets remain volatile.

Fitch’s assessment marks a rare vote of confidence for the Egyptian pound, which in recent years has been under strain from inflationary pressures and external shocks. 

The agency emphasized that continued progress on economic reforms and prudent monetary policy would be essential in safeguarding the currency’s stability over the medium term.