Deutsche Bank expects US dollar to reach EGP 15.5 by June, EGP 15 by December – ZAWYA

Deutsche Bank expects US dollar to reach EGP 15.5 by June, EGP 15 by December – ZAWYA

Deutsche Bank expected that the Egyptian pound will continue to strengthen against the US dollar to reach EGP 15.5 by the end of the first half of 2020 and EGP 15 by the end of the year.. According to a bank report, additional structural improvements have started in the balance of payments in Egypt, as the petroleum trade balance has improved due to the decrease in import volumes and Egypt's realisation of self-sufficiency in natural gas.. Deutsche Bank added that the inflation rate has decreased significantly, expecting that the main inflation will continue to decline to remain at single rates throughout 2020.. It explained that the rise in the exchange rate of the pound and the drop in international oil prices, along with the government's intervention to control prices in the food market, helps to contain and curb inflation..