{"id":686781,"date":"2026-03-01T00:00:00","date_gmt":"2026-03-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/panic-selling-hits-egx-egp-weakens-following-regional-escalation\/"},"modified":"2026-03-01T00:00:00","modified_gmt":"2026-03-01T00:00:00","slug":"panic-selling-hits-egx-egp-weakens-following-regional-escalation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/panic-selling-hits-egx-egp-weakens-following-regional-escalation\/","title":{"rendered":"Panic selling hits EGX, EGP weakens following regional escalation"},"content":{"rendered":"

Good afternoon, ladies and gentlemen.<\/strong> The week is off to a tumultuous start following the US and Israeli attack on Iran yesterday, which prompted a ripple effect of retaliation against Israel and Arab countries. <\/p>\n

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

\ud83d\udccd Where things stand in Om El Donia the day after the attack on Iran is all everyone can talk about. <\/strong>The EGP slipped toward the 48.90 per USD mark in mid-day trading today, as tensions triggered a fresh wave of foreign outflows totaling some USD 1.3 bn so far, sources tell EnterpriseAM. While the Central Bank of Egypt is covering exits through a specialized account and the interbank market, officials stressed that reserves remain secure and the exchange rate is allowed to adjust to absorb the shock. Relief is expected this week as USD 2.3 bn in IMF tranches and RSF payments are set to hit CBE accounts.<\/p>\n

Despite the volatility, the Treasury is testing market appetite today with an EGP 95 bn T-bill offering<\/strong> that includes a new 11-month maturity, though debt officials warned they will \u201cnot accept exaggerated yields\u201d to offset the temporary risk premium. On the ground, importers are monitoring shipping costs amid fears of a Strait of Hormuz disruption, while food markets remain stable thanks to pre-Ramadan stockpiling.<\/p>\n

Over on the stock market\u2026<\/strong> The EGX 30 shed 2.5%, closing today\u2019s session at 47.98k, as regional markets reel from a massive geopolitical escalation in the Persian Gulf. The benchmark had dropped as much as 5.6% at the open \u2014 briefly touching 46.34k \u2014 before paring losses into the close.<\/p>\n

The sell-off did not start from a peak. <\/strong>\u201cThe EGX was already in a correction phase before yesterday\u2019s events,\u201d Randa Hamed, managing director at Okaz Asset Management, tells EnterpriseAM, noting the index had pulled back from its all-time high of 52.8k to 48.6k by Thursday on profit-taking and valuation reassessments. \u201cThe market was not falling from a peak, it was already in the process of finding its footing.\u201d She described the 5.6% opening drop as \u201can acute panic response to an extraordinary event.\u201d<\/p>\n

^^ We\u2019ll have more on these stories and much more in tomorrow\u2019s edition of EnterpriseAM.<\/strong><\/p>\n

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

\ud83c\udf10 Investor anxiety is mounting as oil prices are expected to jump<\/strong> when trading reopens on Monday in the wake of the attack on Iran<\/strong>, potentially prompting capital flows into safe-haven assets. With the Strait of Hormuz effectively closed, Opec+ has reportedly agreed to boost oil output by 206k bbl \/ d to cushion regional disruptions, as of the time of publication. Meanwhile, BTC stood at USD 67k this morning, with downward projections widely expected.<\/p>\n

^^Read more on: Reuters<\/a>, the Financial Times<\/a>, and Bloomberg here<\/a> and here<\/a>.<\/p>\n

Also in today\u2019s issue:<\/strong> We take a look at why multi-tasking might not be the way to go, dive into the country\u2019s industrial pivot, and recommend your next Ramadan watch.<\/p>\n

So, when do we eat?<\/strong> Maghrib prayers are at 5:54pm in the capital, and you\u2019ll have until 4:54 am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

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