The Turkish currency exchange rate recorded Wednesday 1,00 lira against the Egyptian pound, after recording 1.02 on Sunday, according to the official exchange rates.
The lira recorded 30.75 against the dollar, while the Egyptian currency recorded 30.90.
Moreover, the Turkish currency recorded 33 liras against the euro, while the Egyptian pound recorded 33.16 against the European single currency.
In Decmber 2016, The lira recorded an all time high at 5.37 against the Egypt pound.
The lira lost more than a third of its value in 2020 and more than 80% in the last five years, battered by a series of past interest rate cuts in the face of soaring inflation.
Since 2016, Egypt devalued its currency three times to over 30 pounds per dollar from 8 pound before the IMF deal.
It is noteworthy, that President Abdel Fattah El-Sisi said that Egypt aims to raise trade exchange with Turkey to $15 billion, noting that investment and trade relations between the two countries have witnessed steady growth.
This came during a press conference Wednesday during the visit of Turkish President Recep Tayyip Erdogan to Egypt.
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