Economic expert reveals Egyptian pound outlook for the coming two months
Economist Mohamed Anis has described the declines seen on the Egyptian Exchange over the past week as “paper losses” rather than actual, realized losses. In a phone interview with “Hadith al-Qahira” (Cairo Talk), he attributed this downturn to the sale of shares, undertaken to generate liquidity for the upcoming initial public offering (IPO) of Banque … The post Economic expert reveals Egyptian…
Economist Mohamed Anis explained that recent declines in the Egyptian stock market should not be considered actual losses but rather paper losses. The downturn is attributed to investors selling shares to generate liquidity for the upcoming Banque du Caire IPO, as well as foreign investments exiting stock and bond markets due to the US-Iran conflict causing "hot money" outflows.
Anis noted that investors' selling actions are driven by the need to participate in significant public offerings and the desire to avoid unsuitable stocks or poor purchasing prices. He advised against panic selling during market downturns, recommending instead that investors carefully analyze their portfolios and identify optimal times for restructuring.
For the foreign exchange market, Anis predicted the US dollar-Egyptian pound exchange rate would stabilize around LE 54-57 over the next two months, considering the economic impact of the US-Iran conflict.
Written by urgent.news from Egypt Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
