If you are among the people seeking positive news in Egypt, you will be glad to hear that US dollar decline against the pound and registered 16 EGP especially as the dollar declined against the pound at unprecedented rates since the flotation on 3 November 2016, to hit EGP 16.00 on Tuesday compared to EGP 19.50 mid-December 2016.
Those who stored the dollar are heading to the banks to sell their stock before they lose their profits as economists are advising to not buy dollars in the coming period, because they expect its further decline in the short term.
Furthermore, Egyptian media is optimistic and hoping that the prices are going to fall down as crazy as they went up. I was happy to hear the good news. Yet, I was happier to hear that dozens of factories are running again after they stopped during the previous unrest in Egypt since the revolution of January 25. This means that many Egyptians are not only dreaming, but they have started working to make their dreams come true.
I won’t go too far being optimistic as we have many challenges ahead of us. Thus, I call the Egyptian people and government to hope for the best and prepare for the worst.
