The Egyptian pound reached 5.7062 to the dollar, its weakest since January 2007, likely pushed down by demand for dollars among importers after the Muslim fasting month of Ramadan, traditionally a slow time for imports, a trader said.
The central bank may also have provided dollars to the market to support the pound, a trader said.
"There are conflicting signals. Inflation is higher, which should lead the dollar down. Plus the euro is weak against the dollar." The pound has reached a series of 3-1/2 lows to the US currency since late August.
