{"id":690800,"date":"2026-03-30T00:00:00","date_gmt":"2026-03-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=690800"},"modified":"2026-03-30T13:28:18","modified_gmt":"2026-03-30T13:28:18","slug":"egp-hits-record-low-against-the-greenback","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/30\/egp-hits-record-low-against-the-greenback\/","title":{"rendered":"EGP hits record low against the greenback"},"content":{"rendered":"

\u2600\ufe0f Good afternoon, friends, and welcome back. <\/strong>It\u2019s a bright and sunny day, and we hope you\u2019re making the most out of it before the weather potentially throws us for another loop. Today, we\u2019re speaking to experts from across the region to assess the psychological impact of the war, taking a look at a business podcast that tells it like it is \u2014 no BS \u2014 and more.<\/p>\n

\n

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

\ud83d\udccd The EGP hit a fresh all-time low in Monday\u2019s midday trading, sliding past the 54.5 mark against the greenback <\/strong>as the exit of carry-trade investors and a cocktail of regional shocks put a severe squeeze on local FX liquidity. At the banks, the USD was trading as high as 54.65 at CIB and 54.60 at the NBE, which, former Banque Misr Deputy Chair Sahar El Damaty told us, reflects the pressure of a flexible exchange rate regime absorbing disruptions to tourism, investment, and Suez Canal revenues.<\/p>\n

Don\u2019t expect a quick rebound: <\/strong>Damaty warns that the currency will likely remain under pressure in the near term, a sentiment echoed by a bearish long-term outlook from S&P Global Ratings, which anticipates the EGP will slide to 58.30 by the end of FY 2026-2027 and potentially cross the 60 mark in the following years as Egypt navigates the structural fallout of regional instability.<\/p>\n

^^ We\u2019ll have more on this story in tomorrow\u2019s edition of EnterpriseAM.<\/p>\n

\n

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

\ud83c\udf10 Still leading the press this afternoon are US President Donald Trump\u2019s <\/strong>threats to \u201ccompletely\u201d obliterate Iran\u2019s energy infrastructure<\/strong> \u2014 including oil wells, electric plants, and, most importantly, key export hub Kharg Island \u2014 if the Strait of Hormuz is not \u201cimmediately\u201d re-opened. That said, Trump still says he thinks an agreement with Iran is on the table. Iran has not yet responded.<\/p>\n

MEANWHILE- <\/strong>Missiles fired<\/strong> at Israel by Yemen\u2019s Houthis drove oil prices higher. <\/strong>Brent rose 2%, trading at USD 115 a barrel after reaching USD 116 this morning, while WTI rose to over USD 100 per barrel, as of the time of publication. <\/p>\n

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

\n
\n
\n
\n

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

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n