{"id":663518,"date":"2025-04-10T00:00:00","date_gmt":"2025-04-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/10\/the-egp-dipped-slightly-against-the-usd-yesterday-will-late-night-trump-tariff-relief-bring-foreign-investors-back\/"},"modified":"2025-04-10T00:00:00","modified_gmt":"2025-04-10T00:00:00","slug":"the-egp-dipped-slightly-against-the-usd-yesterday-will-late-night-trump-tariff-relief-bring-foreign-investors-back","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/10\/the-egp-dipped-slightly-against-the-usd-yesterday-will-late-night-trump-tariff-relief-bring-foreign-investors-back\/","title":{"rendered":"The EGP dipped slightly against the USD yesterday. Will late-night Trump tariff relief bring foreign investors back?"},"content":{"rendered":"

The EG<\/strong>P dipped against the USD during trading yesterday<\/strong>, setting a new post-float low as the greenback changed hands for EGP 51.72-51.75 at both public and private banks. Yesterday\u2019s dip offset a brief rebound<\/a> in the value of the EGP the day before, which saw it close at EGP 51.33 to the USD. The EGP started the week at 50.62.<\/p>\n

Will Trump tariff relief announced overnight put some wind back in the EGP\u2019s sails?<\/strong> Egypt was included in the surprise 90-day pause of additional tariffs announced on Truth Social<\/a>. The region\u2019s markets and currencies are yet to respond due to the announcement happening between trading sessions, but US markets shot up on the news with the S&P 500 up 9.5%, the Nasdaq rising 12.2%, and the Dow coming in +7.9% at the end of the session. <\/p>\n

Why did the EGP dip yesterday? You can blame a risk-off rooted in US-China tensions, <\/strong>bankers tell us. <\/strong>Foreign investors in Egyptian debt headed for the exits on Sunday and Monday. Others dipped their toes back into the market on Tuesday, and some yesterday were spooked as Washington and Beijing exchanged heated words and tough tariffs. <\/p>\n

Volumes in the interbank market were up 84% yesterday to USD 955 mn<\/strong>, one banker told us. That brings total interbank trading to mor than USD 3 bn since the trade war escalated late last week. <\/p>\n

The takeaway from bankers we spoke with yesterday: Expect the EGP to continue to <\/strong>seesaw. <\/strong>The EGP is being buffeted by global sentiment: \u201cWe cannot predict [when the volatility might subside,\u201d one banker told us. \u201cIt\u2019s all tied up in global developments.\u201d<\/p>\n

Remember: Volatility is good right now. <\/strong>Not comfortable, but good \u2014 that the CBE is committed to a floating FX rate that serves as a \u201cshock-absorber for the economy,\u201d<\/a> as CBE Deputy Governor Ramy Aboul Naga put it this week, <\/p>\n

Don\u2019t be put off by volatility in forwards, either: <\/strong>Non-deliverable forwards (NDFs) yesterday suggested that some traders see the exchange rate weakening to as low as EGP 61.50 per USD this year, according to Asharq Business<\/a>. NDFs are a snapshot of sentiment at a single time. Capital Economics previously penciled-in<\/a> the EGP easing to 55 against the greenback by the end of this year, Goldman Sachs predicted<\/a> saw it at something closer to EGP 59 against the USD by the end of 2025.<\/p>\n

Expect the Madbouly government to stick to its guns when it comes to the reform <\/strong>program. <\/strong>\u201cWhat Egypt is currently doing and what officials are signalling indicates that the government is committed to its reform plans \u2014 this is evident from the movements in the exchange rate over the past few days,\u201d economist Mona Bedair told us. Staying the course on the FX rate shows the country\u2019s \u201cseriousness towards maintaining the fundamentals of its market, which helps maintain the confidence of investors,\u201d Bedair said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EGP touched to a new post-float low<\/p>\n","protected":false},"author":1,"featured_media":663519,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[12144],"tags":[104,6637,72,1666,2234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-663518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egp-watch","tag-economy","tag-egp-watch","tag-enterpriseam","tag-exchange-rate","tag-foreign-exchange","wpautop","entry"],"acf":{"mongo_id":"05bb8b50-309c-44a7-ad0e-d548837ae796","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/416.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The EGP dipped slightly against the USD yesterday. 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Will late-night Trump tariff relief bring foreign investors back?"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/416.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/416.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/416.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":663289,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/07\/egp-drops-to-its-lowest-level-since-march-float-after-tariffs-spark-foreign-investor-exit\/","url_meta":{"origin":663518,"position":0},"title":"EGP drops to its lowest level since March float after tariffs spark foreign investor exit","author":"enterpriseam admin","date":"7 April 2025","format":false,"excerpt":"While the EGP fell against the USD, many other global currencies gained on the greenback","rel":"","context":"In "EGP Watch"","block_context":{"text":"EGP Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/egp-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":663443,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/09\/or-how-i-learned-to-stop-worrying-and-love-fx-volatility\/","url_meta":{"origin":663518,"position":1},"title":"\u2026or how I learned to stop worrying and love FX volatility","author":"enterpriseam admin","date":"9 April 2025","format":false,"excerpt":"The average yield on interest rates \u2014 among the highest globally \u2014 has been the main factor attracting investors quickly back to the market","rel":"","context":"In "EGP Watch"","block_context":{"text":"EGP Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/egp-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/396.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571634,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/19\/egp-eases-to-three-month-lows-against-the-greenback\/","url_meta":{"origin":663518,"position":2},"title":"EGP eases to three-month lows against the greenback","author":"enterpriseam admin","date":"19 May 2020","format":false,"excerpt":"EGP WATCH- EGP eases to three-month lows against the greenback: The EGP dipped yesterday to its lowest level against the USD since early February, according to Refinitiv data picked up by Reuters. The currency fell to intraday lows of 15.83 from 15.72 at the start of the session. Central bank\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":663370,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/08\/egp-slips-further-against-the-greenback-as-foreign-investors-continue-to-exit-amid-tariff-uncertainty\/","url_meta":{"origin":663518,"position":3},"title":"EGP slips further against the greenback as foreign investors continue to exit amid tariff uncertainty","author":"enterpriseam admin","date":"8 April 2025","format":false,"excerpt":"Interbank market transactions since trading began on Sunday are estimated to have reached a total of USD 1.5 bn","rel":"","context":"In "EGP Watch"","block_context":{"text":"EGP Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/egp-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/644.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":669490,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/04\/egp-inches-up-again-against-the-greenback\/","url_meta":{"origin":663518,"position":4},"title":"EGP inches up again against the greenback","author":"enterpriseam admin","date":"4 August 2025","format":false,"excerpt":"Every sustained EGP 1 decrease in the EGP-USD exchange rate could reduce our external debt by as much as EGP 94 bn annually","rel":"","context":"In "EGP Watch"","block_context":{"text":"EGP Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/egp-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2375.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":663518,"position":5},"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 "WHAT WE\u2019RE TRACKING TONIGHT"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/663518","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=663518"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/663518\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/663513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/663519"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=663518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=663518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=663518"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=663518"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=663518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}