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Central Bank of Egypt Governor Hassan Abdalla said the bank remains committed to a flexible exchange rate. The Egyptian pound closed at a record low of 55.35 per dollar in commercial bank trading, surpassing the previous peak of 54.75 reached in April.
Abdalla said the moves reflect regional and global developments and urged the public not to panic.
A weaker pound raises the local-currency cost of imported feed grains and soymeal for Egyptian buyers, who are among the largest importers of wheat, corn and soy products. Currency pressure can also increase demand for dollar-priced feed ingredients.
conven.orgNov 5, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
