Regional tensions drive up dollar against Egyptian pound

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CAIRO: The price of the US dollar rose against the Egyptian pound in recent days, with one dollar worth 49.25 Egyptian pounds. Egyptian economic experts attributed the increase to recent regional developments. “The biggest factor affecting the price of the dollar against the pound is remittances from Egyptians abroad,” said Dr Alaa Ali, an economic expert. “If it rises, the price of the dollar will stabilize or fall against the pound, and if it falls, the price of the dollar will rise and thus the price of the pound will fall,” the economist told Arab News.

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