## Estimating Egypt’s Equilibrium Real Exchange Rate

_IMF Working Papers, January 1, 1998_

## Source details

**Canonical URL:** [Estimating Egypt’s Equilibrium Real Exchange Rate](https://www.imf.org/en/publications/wp/issues/2016/12/30/estimating-egypts-equilibrium-real-exchange-rate-2469)

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## Bibliographic details
- Authors: Joannes Mongardini
- Published: January 1, 1998
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451842159.001

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### Summary and principal findings
- Purpose: Estimate empirically Egypt’s equilibrium real exchange rate—the rate consistent with fundamentals—in light of the real appreciation of the Egyptian pound over the last six years and Egypt’s lackluster export growth.
- Main findings:
  - The real exchange rate was substantially overvalued before 1993.
  - Today it is only moderately above the equilibrium rate.
  - The recent appreciation of the pound does not indicate a worsening misalignment.

### Context and policy relevance
- Issues addressed:
  - External competitiveness.
  - Exchange rate policy.
- Relevant subject areas: Current account; Exchange rate arrangements; Exchange rates; Real effective exchange rates; Real exchange rates.
- Keywords preserved from the source: administered exchange rates; equilibrium exchange rate; monetary policy; terms of trade; U.S. dollar; WP.

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## Content in this bundle

- **Estmating Egypt's Equilibrium Real Exchange Rate - WP/98/5**
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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/estimating-egypts-equilibrium-real-exchange-rate-2469_