The Egyptian pound weakened to its lowest against the dollar since March 13, 2009, as it tracked the euro downward on concerns over the health of euro zone economies.
The pound traded at 5.6543 to the dollar, down from its Monday close of 5.6480, while the euro traded at 1.2204 to the dollar.
"Everyone is in agreement that the euro will at least go to 1.20," said one trader.
The euro zone buys about one-third of Egypt’s exports.
