Like most developing markets, Egypt has a chronic trade deficit that results in currency devaluations every decade or so, however the rate of currency devaluation have accelerated in the past decade as the external debt soared.
Below is a history of the average exchange rate of the Egyptian Pound (EGP) vs the Dollar USD
1- 1982 rate (1 USD = 0.6 EGP)
2- 1992 rate (1 USD = 3.33 EGP)
3- 2003 rate (1 USD = 6.25 EGP) Atef Ebeid government devaluation
4- 2012 rate (1 USD = 6.4 EGP)
5- 2016 rate (1 USD = 13.5 EGP) devaluation in 2016, the dollar stabilized at 15.75 within the following year
6- 2022 rate (1 USD = 19.2 EGP)