EGP Exchange Rate Under Loans from the IMF

Updated 3/10/2024 2:59:00 PM
EGP Exchange Rate Under Loans from the IMF

The Egyptian Pound's exchange rate againts the USD under loans from the International Monetary Fund (IMF) has experienced fluctuations over the years.  

Beginning in November 2016 with a loan value of $12 billion, the exchange rate stood at EGP 17. By May 2020, despite a decrease in loan value to $2.77 billion, the exchange rate improved to EGP 15.8 per USD. 

Subsequent loans in June 2020 and December 2022, amounting to $5.2 billion and $3 billion respectively, saw fluctuations in the exchange rate at EGP 16.2/USD and EGP 24.7/USD. However, by March 2024, with an $8 billion loan, the exchange rate dramatically escalated to EGP 50 per USD. 

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