Egyptian pound at strongest level against U.S. dollar since October 2016

The Egyptian pound has appreciated to the highest level since October 2016 against the US dollar, its Minister of Planning and Economic Development Hala El-Saaed, said on Wednesday.

The greenback has been sliding since June 2020 to settle at 15.7 Egyptian pounds in February 2021, the strongest level in more than four years, El-Saaed added.