The US dollar has continued its depreciation against the Egyptian pound (EGP) in the parallel market, the daily Al Sharq Business reported. As of February 6, 2024, the US dollar traded at around EGP51 in the parallel market, down from a recent peak of EGP72. However, the official exchange rate remains stable at EGP30.96 for buying and EGP30.95 for selling, creating a significant gap between the official and parallel rates. Oxford Economics said the plunge was fuelled mainly by speculation, not by the forces of demand and supply. The consultancy group said in a report published on February 5 th…