{"id":669535,"date":"2025-08-04T00:00:00","date_gmt":"2025-08-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/04\/egp-continues-to-rise-against-greenback\/"},"modified":"2025-08-04T00:00:00","modified_gmt":"2025-08-04T00:00:00","slug":"egp-continues-to-rise-against-greenback","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/04\/egp-continues-to-rise-against-greenback\/","title":{"rendered":"EGP continues to rise against greenback"},"content":{"rendered":"

Good afternoon, friends<\/strong>. It\u2019s a relatively calm day on the news front, and we\u2019ve got a brisk issue for you today.<\/p>\n

\n

THE BIG STORY TODAY-<\/p>\n

The EGP extended its rally against the greenback today for the second <\/strong>consecutive week<\/strong> \u2014 with only a brief two-day pause, as the USD attempted to regain ground. The USD was changing hands at EGP 48.40-48.50 at the National Bank of Egypt and Banque Misr and at EGP 48.38-48.48 at CIB.<\/p>\n

The real driver? USD inflows surge.<\/strong> Local banks are witnessing a significant momentum in USD inflows, and the greenback is available in all banks, a source in the banking sector told EnterpriseAM today. This momentum is driven by seasonal tourism revenues, easing regional tensions, and the increasing interest from foreign investors and funds in our local debt and stock markets, the source added.<\/p>\n

Short-term debt instruments remain the most attractive options for foreign investors<\/strong>, according to our source. <\/p>\n

** For more on the EGP rally \u2014 and the reasons behind it<\/strong>, check out our recent in-depth coverage here<\/a> in today\u2019s morning issue of EnterpriseAM.<\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

Tesla has granted CEO Elon Musk 96 mn shares worth <\/strong>approximately USD 29 bn<\/strong> in an effort to gradually boost his voting power as he continues to push back against court rulings that annulled his original compensation package. <\/p>\n

ICYMI<\/strong>- Musk\u2019s 2018 compensation package \u2014 valued at USD 50 bn \u2014 was voided by a Delaware court last year on account of being \u201cunfair to shareholders,\u201d and due to flawed Tesla board approval processes. Musk would later appeal the ruling in March, citing legal errors. Earlier this year, a special committee was formed to reassess Musk\u2019s compensation. <\/p>\n

MEANWHILE- Tesla\u2019s brand loyalty is dropping, and Musk is to blame<\/strong>. Musk\u2019s bromance and subsequent fallout with US President Donald Trump seems to have given Tesla quite the black eye. Having previously had more repeat customers than most major US auto brands \u2014 with up to 73% of Tesla-owning households buying another Tesla \u2014 it seems the EV maker has since taken hit after hit. Last March, its brand loyalty rate dropped to 49.9% \u2014 below industry average. It recovered in May, reaching up to 57.4%, yet is now on par with the rest of the industry after once leading the charge.<\/p>\n

Tesla sales are dropping<\/strong>, with the first five months of 2025 seeing an 8% decline in sales for the EV maker in the US and shares down 25.1% YTD. The reason? Political activism at a very bad time \u2014 just as EV competition grew. (Financial Times<\/a> | Reuters<\/a> | CNBC<\/a> | ABC<\/a>)<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\u2600\ufe0f <\/strong>TOMORROW\u2019S WEATHER- <\/strong>It\u2019s a sunny day in Cairo tomorrow, with temperatures set to peak at 35\u00b0C before cooling down to 24\u00b0C. Up north, we\u2019re expecting a high of 28\u00b0C and a low of 26\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, friends. 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 regain ground. The USD […]<\/p>\n","protected":false},"author":1,"featured_media":669536,"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":[7213],"tags":[1419,6637,633,1666,2234,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-669535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-egp","tag-egp-watch","tag-enterprisepm","tag-exchange-rate","tag-foreign-exchange","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"4937c417-736d-4c4b-b0a1-4620775ac20c","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/2\/1979.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGP continues to rise against greenback","related_issue":[669533],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.53bc9c2f-5aba-4b78-9227-a7d789f13a7f.mp3"},"yoast_head":"\nEGP continues to rise against greenback - 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\/2025\/08\/04\/egp-continues-to-rise-against-greenback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGP continues to rise against greenback\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends. 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 regain ground. 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The EGP hit fresh two-year highs against the greenback last week, breaking the EGP\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":669575,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/05\/egp-hits-12-month-high-as-it-extends-gains-against-the-greenback\/","url_meta":{"origin":669535,"position":1},"title":"EGP hits 12-month high as it extends gains against the greenback","author":"enterpriseam admin","date":"5 August 2025","format":false,"excerpt":"Local banks are witnessing a significant momentum in USD inflows","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\/8\/177.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569016,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egp-surges-to-new-three-year-highs-against-the-greenback\/","url_meta":{"origin":669535,"position":2},"title":"EGP surges to new three-year highs against the greenback","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"CURRENCY WATCH- EGP surges to new three-year highs against the greenback: The EGP rallied yesterday to its highest value against the USD since it was floated three years ago as part of the country\u2019s IMF-backed economic reform program, Reuters reports. The greenback was changing hands at EGP 15.67 yesterday. The\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\/2020\/2\/144.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":669051,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/27\/egp-extends-its-rally-against-the-greenback\/","url_meta":{"origin":669535,"position":3},"title":"EGP extends its rally against the greenback","author":"enterpriseam admin","date":"27 July 2025","format":false,"excerpt":"Good afternoon, friends, and welcome to the start of another workweek. At home, the news cycle \u2014 and the EGP \u2014 seems to be taking a breather. Meanwhile, international headlines remain focused on the latest developments in Gaza. THE BIG STORY TODAY EGP extends its rally against the greenback: The\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\/1\/2098.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600399,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/29\/why-did-the-egp-gain-against-the-greenback-yesterday\/","url_meta":{"origin":669535,"position":4},"title":"Why did the EGP gain against the greenback yesterday?","author":"enterpriseam admin","date":"29 January 2019","format":false,"excerpt":"Connecting the dots: The EGP keeps strengthening, yields keep falling: The EGP continued rising against the USD this week, strengthening to a selling price of 17.70 to the USD from around EGP 18.00 last Wednesday. Simultaneously, yields on Egyptian three- and nine-months T-bills fell at Sunday\u2019s auction to their lowest\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\/2020\/10\/18.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":669535,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/669535","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=669535"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/669535\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/669533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/669536"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=669535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=669535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=669535"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=669535"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=669535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}