The Egyptian pound (EGP) continued to slide against the US dollar (USD) as the Central Bank of Egypt (CBE) released the latest exchange rates on December 3, 2024. According to the CBE’s website, the USD buying rate stood at EGP 49.68, while the selling rate was EGP 49.78 per dollar, showing a slight decline from the previous day’s rates. On Monday, December 2, the buying rate was EGP 49.66, and the selling rate was EGP 49.76.
The ongoing dip in the EGP’s value reflects the pressures facing Egypt’s economy, amid inflation and other financial challenges. The Central Bank’s data reveals a trend of gradual depreciation for the Egyptian pound in recent weeks.
As the EGP continues to fluctuate, experts are monitoring the broader economic implications for the country, particularly regarding inflation and import costs.
