11 Hrs
Source:
الشرق الأوسط
Dollar hits new high in Egypt
The rise in the US dollar exchange rate against the Egyptian pound has led to a noticeable increase in the prices of basic goods and imported products in Egypt. The dollar's exchange rate has surpassed 55 pounds, reaching new record levels, which caused prices for mobile phones, cars, and electrical appliances to rise by between 15,000 and 80,000 Egyptian pounds. It is also expected that prices could increase by up to 10% if the dollar's rise continues. This inflation directly impacts citizens' living standards, especially as the cost of imports increases, and it is considered a main driver of inflation in the Egyptian economy.
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