{"id":617048,"date":"2024-03-14T00:00:00","date_gmt":"2024-03-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/"},"modified":"2024-03-14T00:00:00","modified_gmt":"2024-03-14T00:00:00","slug":"this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/","title":{"rendered":"THIS EVENING: EGP strengthens against the USD to below EGP 48 \/ USD 1"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, ladies and gentlemen, and happy Thursday.<\/strong> We\u2019re wrapping up the first workweek of Ramadan on a slightly calmer note than the past few days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The EGP strengthened by c. 60 piasters today to close below 48 against the <\/strong><strong>greenback<\/strong> for the first time since the float on 6 March, according to Central Bank of Egypt data. The local currency has been in an upward trend since the float, gaining around 6% in the last six banking days, according to our calculations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag of headlines in the international press this afternoon. <\/strong>The Biden administration has been actively working on exhausting all options to de-escalate Houthi attacks on vessels passing through the Red Sea including reigniting a nearly year-long dormant diplomacy with Iran to persuade them to exert authority over the militia which they insist act independently, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/89b01990-7657-45ea-baaa-1f214b40f1cb\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Meanwhile, anonymous US officials revealed that former US president Donald Trump approved a CIA job to infiltrate Chinese social media in order to spread content opposing Chinese President Xi Jinping\u2019s government and turn public opinion, while fostering distrust amongst the Chinese leaders in office, says <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-launched-cia-covert-influence-operation-against-china-2024-03-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Trump has notoriously taken the strongest stance against China of any US President and vows to be even harsher if re-elected but the worry is that China uses this newly revealed information to support their own misgivings against the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1816.jpg?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*<\/strong><strong>* CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>We\u2019re in for a big package from the EU:<\/strong> The EU and Egyptian officials are expected to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cc6d2e9-eac7-45f2-812b-040db3f9c44a\" style=\"\" rel=\"noopener\">ink an agreement that would unlock EUR bns of funding<\/a> on Sunday when a delegation of EU officials\u2014including European Commission President Ursula von der Leyen and the Greek, Belgian, and Italian prime ministers \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/379713a1-7a7b-4b19-a4f8-14913e1cc517\" style=\"\" rel=\"noopener\">visits Cairo<\/a>.<\/li>\n<li><strong>Egypt\u2019s first-ever SAF production project is underway:<\/strong> The Oil Ministry has devised a plan that will see state-owned firm Egyptian Petrochemicals Holding Company (ECHEM) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c584f9c9-0377-428e-9833-0c22ccc1eeff\" style=\"\" rel=\"noopener\">producing the country\u2019s first sustainable aviation fuels<\/a> (SAF).<\/li>\n<li><strong>Gaza tops the agenda in El Sisi, Dutch PM meeting: <\/strong>President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f36a713-bac1-4159-8b59-6d409f020ab9\" style=\"\" rel=\"noopener\">called for an immediate ceasefire in Gaza<\/a> and an end to Israel\u2019s hostilities and called on Dutch Prime Minister Mark Rutte to \u201cexert his genuine efforts in this regard for ending this humanitarian catastrophe in the Gaza Strip and halting the escalation and tensions in various parts of the region as well.\u201d<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HELP GAZA-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to support relief efforts in Gaza, but don\u2019t know how?<\/strong> We\u2019ve got you. Nearly 2 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The folks at Talabat are processing donations for a range of Gaza relief appeals <\/strong>by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Or check out <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/f8ce0f50-10c2-4cca-8e6f-64c32a5c90b7\" style=\"\" rel=\"noopener\">our list of charities<\/a><\/strong><strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>?\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Look out for a partly cloudy day with a high of 25\u00b0C during the day and a low of 12\u00b0C in the evening, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen, and happy Thursday. We\u2019re wrapping up the first workweek of Ramadan on a slightly calmer note than the past few days. THE BIG STORY TODAY The EGP strengthened by c. 60 piasters today to close below 48 against the greenback for the first time since the float on 6 March, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,2234,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617048","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-foreign-exchange","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"463dcc9a-7783-4a33-a6c5-4677b470c267","order":"0","is_powered_by":false,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[617046],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.2c2023dd-9581-4c35-aad7-8f4849bef8e6.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: EGP strengthens against the USD to below EGP 48 \/ USD 1 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: EGP strengthens against the USD to below EGP 48 \/ USD 1\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen, and happy Thursday. We\u2019re wrapping up the first workweek of Ramadan on a slightly calmer note than the past few days. THE BIG STORY TODAY The EGP strengthened by c. 60 piasters today to close below 48 against the greenback for the first time since the float on 6 March, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-14T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ent.news\/2024\/2\/1816.jpg\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS EVENING: EGP strengthens against the USD to below EGP 48 \/ USD 1\",\"datePublished\":\"2024-03-14T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/\"},\"wordCount\":576,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ent.news\/2024\/2\/1816.jpg\",\"keywords\":[\"EnterprisePM\",\"foreign exchange\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/14\/this-evening-egp-strengthens-against-the-usd-to-below-egp-48-usd-1\/\",\"name\":\"THIS EVENING: EGP strengthens against the USD to below EGP 48 \/ USD 1 - 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It\u2019s a relatively calm day on the news front, and we\u2019ve got a brisk issue for you today.THE BIG STORY TODAY- The EGP extended its rally against the greenback today for the second consecutive week \u2014 with only a brief two-day pause, as the USD attempted to\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/1979.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":663254,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/06\/egp-falls-to-lowest-level-since-march-2024-float\/","url_meta":{"origin":617048,"position":1},"title":"EGP falls to lowest level since March 2024 float","author":"enterpriseam admin","date":"6 April 2025","format":false,"excerpt":"Good afternoon, friends. The first workday following the introduction of Trump tariffs is proving eventful as local and regional markets react to the news \u2014 at home, that meant the EGP sliding against the greenback and the EGX falling. THE BIG STORY TODAY- EGP passed 51 mark against the USD:\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666912,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/16\/egp-strengthens-against-the-usd\/","url_meta":{"origin":617048,"position":2},"title":"EGP strengthens against the USD","author":"enterpriseam admin","date":"16 June 2025","format":false,"excerpt":"Good afternoon, friends. It\u2019s another day with all eyes on the region, as the Israel-Iranian conflict continues to unfold \u2014 here in Egypt, everyone is closely following the impact of it all on markets, the exchange rate, and investor sentiment. THE BIG STORY TODAY- The EGP bounced back after a\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/827.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581891,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/this-evening-ekh-to-invest-usd-170-mn-this-year-a-norway-backed-electricity-interconnection-project-could-be-in-the-works\/","url_meta":{"origin":617048,"position":3},"title":"THIS EVENING: EKH to invest USD 170 mn this year + A Norway-backed electricity interconnection project could be in the works","author":"enterpriseam admin","date":"23 February 2023","format":false,"excerpt":"Good afternoon, ladies and gentlemen, and a very happy THURSDAY to all of you. After what felt like a particularly long workweek, we are so ready for the weekend.THE BIG STORIES TODAY\u2013 #1- Egypt Kuwait Holding plans to invest USD 170 mn across at least three sectors this year, following\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":616889,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/12\/this-evening-customers-sold-c-egp-765-mn-in-fx-at-al-ahly-exchange-and-misr-exchange\/","url_meta":{"origin":617048,"position":4},"title":"THIS EVENING: Customers sold c.EGP 765 mn in FX at Al Ahly Exchange and Misr Exchange","author":"enterpriseam admin","date":"12 March 2024","format":false,"excerpt":"Good afternoon, folks, and happy hump day. Even with Ramadan, the news cycle hasn\u2019t slowed down and is still going strong with more updates after last week\u2019s float. So, when do we eat? Maghrib prayers are at 6:02 pm in the capital, and you\u2019ll have until 4:41 am tomorrow to\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/166.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616613,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/07\/this-evening-lots-of-love-from-jp-morgan-as-they-recommended-buying-our-one-year-t-bills\/","url_meta":{"origin":617048,"position":5},"title":"THIS EVENING: Lots of love from JP Morgan as they recommended buying our one-year t-bills","author":"enterpriseam admin","date":"7 March 2024","format":false,"excerpt":"Good afternoon, folks, and happy Thursday. As much as this week has brought on some positivity we couldn\u2019t be more excited for the weekend and the onset of Ramadan. THE BIG STORY TODAY It\u2019s day one after the float and the news cycle is only accelerating-EGP is slightly up in\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=617048"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617048\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/617046"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617048"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617048"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}