Question
I need a really detailed thorough explanation Egyptian pound has gone through some volatility since it was floated in November 2016 until today. This could
I need a really detailed thorough explanation
Egyptian pound has gone through some volatility since it was floated in November 2016 until today. This could be broken down in 4 main phases as follows:
Phase 1: From floatation till June 2018
Phase 2: From June 2018 - December 2018
Phase 3: From January 2019 - February 2020
Phase 4: Coronavirus worldwide outbreak
1- what happened during each of the above 4 phases and explain in full details how these factors impacted the EGP exchange rate versus the Dollar.The answer should cover, but not limited to the following points:
What made the EGP appreciate / depreciate. Your analysis should be based on how the BOP(balance of payments) components impacted the exchange rate.
What actions (if any) were taken by the Central Bank of Egypt in response to these market changes. What was the intended outcome which made CBE take such actions?
What major actions related to interest rates on EGP saving instruments were taken by the largest public sector banks (National Bank of Egypt and Banque Misr). Why do you think these actions were taken?
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