{"id":666946,"date":"2025-06-17T00:00:00","date_gmt":"2025-06-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/"},"modified":"2025-06-17T00:00:00","modified_gmt":"2025-06-17T00:00:00","slug":"egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/","title":{"rendered":"EGP bounces back against the greenback as panic among foreign investors subsides"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The EG<\/strong><strong>P rebounded against the USD yesterday, offsetting some of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5dead3-eac5-4e41-85af-ff462d52ecee\/egp-dips-below-the-egp-51-mark-in-trading-against-the-greenback-as-israel-iran-conflict-escalates\" style=\"\" rel=\"noopener\">losses<\/a><\/strong><strong> it had incurred during Sunday\u2019s <\/strong><strong>trading,<\/strong> as panic among foreign investors subsided, a source in the banking sector told EnterpriseAM. Markets were less reactive despite continued Israel-Iran escalations overnight, the source added. 35\/34<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD exchange rate recorded EGP 50.20-50.21 for buying and EGP 50.31-50.34 for <\/strong><strong>selling at state and private bank<\/strong>s, down by around EGP 0.35 since the day before, following a halt in exits and purchases from Arab and Egyptian institutions, which helped restore confidence among foreign investors. According to the source, interbank USD transactions subsided to below USD 500 mn yesterday, compared to USD 800 mn on Sunday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe are still in a phase of uncertainty,<\/strong> but it seems the markets are becoming less affected by the repercussions \u2014 that is unless the escalation intensifies, in which case the impact will return,\u201d the source said. High interest rates on debt instruments could contribute to keeping hot money in the market for a longer period, the source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Sunday marked the first day of trading since Israel and Iran started trading attacks, which led to the USD crossing the EGP 51 mark for the first time since April during trading, before being sold for around EGP 50.66-50.69 at state-owned and private banks by the end of trading. The dip was the result of foreign investors exiting our local debt market in favor of safer havens, three sources in the banking sector told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP\u2019s appreciation against the USD was also down to the limited selling activity in <\/strong><strong>the secondary marke<\/strong>t compared to Sunday, in what is an indication that foreign investors are continuing to hold positions in the local market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is also facing pre-closing commitments for the FY 2024-2025 state budget,<\/strong> with the Finance Ministry set to close its accounts on 18 June. No further allocations will be disbursed between government entities in preparation for the start of the new fiscal year on 1 July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Markets were less reactive despite continued Israel-Iran escalations overnight<\/p>\n","protected":false},"author":1,"featured_media":666947,"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":[380,1419,6637,72,2234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-666946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egp-watch","tag-currencies","tag-egp","tag-egp-watch","tag-enterpriseam","tag-foreign-exchange","wpautop","entry"],"acf":{"mongo_id":"162e95ff-1c57-41e3-bd3b-e1bee7049fe0","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/1489.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGP bounces back against the greenback as panic among foreign investors subsides","related_issue":[666941],"teaser":"Markets were less reactive despite continued Israel-Iran escalations overnight","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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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":666864,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/16\/egp-dips-below-the-egp-51-mark-in-trading-against-the-greenback-as-israel-iran-conflict-escalates\/","url_meta":{"origin":666946,"position":1},"title":"EGP dips below the EGP 51 mark in trading against the greenback as Israel-Iran conflict escalates","author":"enterpriseam admin","date":"16 June 2025","format":false,"excerpt":"\u201cThe exchange rate is the government\u2019s top concern,\u201d a banking source told EnterpriseAM","rel":"","context":"In &quot;EGP Watch&quot;","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":666827,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/15\/egp-and-egx-see-sharp-declines-on-the-back-of-regional-escalations\/","url_meta":{"origin":666946,"position":2},"title":"EGP and EGX see sharp declines on the back of regional escalations","author":"enterpriseam admin","date":"15 June 2025","format":false,"excerpt":"Good afternoon, all and welcome to the start of another workweek. The newscycle remains dominated by the ongoing escalations between Israel and Iran and their impact on local, regional, and global markets. THE BIG STORY TODAY- The EGP and EGX see sharp declines on the back of regional escalations: After\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":667242,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/egp-continues-to-weaken-against-the-greenback\/","url_meta":{"origin":666946,"position":3},"title":"EGP continues to weaken against the greenback","author":"enterpriseam admin","date":"22 June 2025","format":false,"excerpt":"Good afternoon, all and welcome to the start of another workweek. The newscycle remains dominated by the ongoing escalations between Israel and Iran and the latest US strikes on Iran and their local and regional impact.THE BIG STORY TODAY- The EGP continued to weaken against the greenback today, with the\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\/1239.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667093,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/19\/budget-amendments-might-be-on-the-way-if-regional-escalation-persists\/","url_meta":{"origin":666946,"position":4},"title":"Budget amendments might be on the way if regional escalation persists","author":"enterpriseam admin","date":"19 June 2025","format":false,"excerpt":"Amendments are expected to come in 2H 2025 or before the end of the current parliamentary session in October","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1067.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666987,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-continues-to-strengthen-against-the-greenback\/","url_meta":{"origin":666946,"position":5},"title":"EGP continues to strengthen against the greenback","author":"enterpriseam admin","date":"17 June 2025","format":false,"excerpt":"Good afternoon, all. After a couple of busy days, the news cycle has taken a breather. Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us?\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\/1\/2098.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\/666946","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=666946"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/666946\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/666941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/666947"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=666946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=666946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=666946"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=666946"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=666946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}