Yara El-Genainy_ Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), affirmed the CBE's commitment to the flexible exchange rate regime, stressing that exchange rate movements upwards and downwards are normal in light of global economic developments, and that the evaluation of economic performance should not rely solely on the exchange rate.
Abdalla stated, during a panel discussion titled "Foreign Currency Resources and Debt Management" within the activities of the Egypt 2026 Forum, that the objective of implementing the flexible exchange rate regime is to create a suitable environment for investment and economic activity, allowing the private sector to operate and work efficiently.
He added that the flexible exchange rate represents the first line of defense, not the only one, in facing economic shocks, emphasizing that the real economy is the basis for providing the necessary dollar resources for the state.
The Governor of the Central Bank pointed out that the dollar exchange rate had previously declined after the improvement of economic conditions, expressing his optimism that the improved performance of the real economy will contribute to supporting foreign exchange resources and improving conditions during the coming period.
