{"id":669575,"date":"2025-08-05T00:00:00","date_gmt":"2025-08-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/05\/egp-hits-12-month-high-as-it-extends-gains-against-the-greenback\/"},"modified":"2025-08-05T00:00:00","modified_gmt":"2025-08-05T00:00:00","slug":"egp-hits-12-month-high-as-it-extends-gains-against-the-greenback","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/05\/egp-hits-12-month-high-as-it-extends-gains-against-the-greenback\/","title":{"rendered":"EGP hits 12-month high as it extends gains against the greenback"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The EGP recorded its highest level against the greenba<\/strong><strong>ck in over a year<\/strong>, extending its rally. 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, by the end of yesterday\u2019s trading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Surging FX flows to thank:<\/strong> Local banks are witnessing a significant momentum in USD inflows and the greenback is available in all banks, a banker told EnterpriseAM. 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors flock to short-term debt:<\/strong> Short-term debt instruments remain the most attractive options for foreign investors, the banker said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A closer look at investor app<\/strong><strong>etite:<\/strong> The Central Bank of Egypt sold over EGP 60 bn worth of EGP-denominated t-bills during an auction on Sunday, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/auctions\/egp-t-bills\" style=\"\" rel=\"noopener\">data<\/a> from its website. The CBE sold EGP 36.2 bn worth of three-month t-bills \u2014 it was after EGP 20 bn \u2014 and EGP 24 bn worth of nine-month t-bills, missing its target of EGP 35 bn after investors requested yields that went up to 31.0% <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strength of the EGP hasn\u2019t brought down the yield investors are demanding at <\/strong><strong>action: <\/strong>The bank accepted yields of up to 29.2%, a notable increase from the figures seen in June, CBE data shows.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For more on what\u2019s driving the EGP\u2019s rally<\/strong>, check out our in-depth coverage <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f0be8e1-6e59-4318-a34d-40a8e86ebaa4\/egp-gains-more-momentum-against-the-greenback\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77c8b467-efc4-4087-88d5-7d9e6861b48c\/egp-strengthens-against-the-usd-following-significant-inflows\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Local banks are witnessing a significant momentum in USD inflows<\/p>\n","protected":false},"author":1,"featured_media":669576,"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":[6637,72,1666],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-669575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egp-watch","tag-egp-watch","tag-enterpriseam","tag-exchange-rate","wpautop","entry"],"acf":{"mongo_id":"d1b503f8-bc21-4e95-b94c-82b7db6993d1","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/177.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGP hits 12-month high as it extends gains against the greenback","related_issue":[669558],"teaser":"Local banks are witnessing a significant momentum in USD inflows","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.08f63c6d-678f-4f32-b33e-1d760d13a722.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 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":666946,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/","url_meta":{"origin":669575,"position":1},"title":"EGP bounces back against the greenback as panic among foreign investors subsides","author":"enterpriseam admin","date":"17 June 2025","format":false,"excerpt":"Markets were less reactive despite continued Israel-Iran escalations overnight","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\/1489.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":669575,"position":2},"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 &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\/2\/2375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578990,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/higher-yields-a-weaker-egp-have-foreign-investors-looking-at-egypt\/","url_meta":{"origin":669575,"position":3},"title":"Higher yields + a weaker EGP have foreign investors looking at Egypt","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"Higher yields + weaker EGP could bring foreign investors back to the market: Foreign investors who sold out of Egypt last year are once again looking at Egypt\u2019s debt market on the back of a cheaper EGP and record yield, Bloomberg writes. The spread between most EGP treasury bills and\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/355.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":669575,"position":4},"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 &quot;Speed Round&quot;","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":571634,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/19\/egp-eases-to-three-month-lows-against-the-greenback\/","url_meta":{"origin":669575,"position":5},"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 &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/669575","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=669575"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/669575\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/669558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/669576"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=669575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=669575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=669575"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=669575"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=669575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}