The Egyptian Pound is falling like a lead balloon at the moment due to the unrest on the streets of Cairo and Alexandra and the uncertainty regarding its future government and which direction it will eventually take. In June last year £1 would get you just over E£8 (Egyptian Pounds) but at the time of writing the exchange rate was more than E£9.5, an increase/saving of almost 20% if you have held off from buying a property in Egypt over the past seven months.

Ten years ago there were just E£5.3 to UK£1, but in 2004 and 2007 the exchange rate hit ten year highs, averaging at a rate of between 11 and 12 for both of those years. At a time when Sterling is considerably cheaper compared to nearly all other currencies, UK property investors that have been considering investing in Egypt may find that while now may not be the best time to buy a property there, it could be a great time to change up your deposit into Egyptian Pounds, especially as some currency specialists are predicting a further weakening of the Egyptian Pound of around 10% over the next month or two. This would take the rate to around 10.5 and would represent a fall of over 30% in less than a year.

Eventually, once the problems in Egypt have been resolved, both tourism numbers and property purchase could be boosted by a far weaker Egyptian Pound.