Arab Finance: The Egyptian Electricity Holding Company (EEHC) has decided to raise the exchange rate of the US dollar (USD) against the Egyptian pound to EGP 49.55 in the coming fiscal year’s (FY) budget, Asharq Business reported, citing three government officials.

The officials pointed out that the exchange rate of the USD against the EGP in the current FY’s budget stands at EGP 30.9.

Furthermore, the EEHC has also set the exchange rate of the euro against the pound at EGP 53.8 in next FY’s budget, up from around EGP 33.5 in this FY’s budget, one official highlighted.

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