Silver is the new choice for Egyptians to preserve their savings. The price of a gram of silver has more than doubled in a year, reaching 47 pounds in the Egyptian market.
The pound has fallen nearly 50% against the dollar since early 2022, as the country faces a growing shortage of foreign currency inflows. In a country where it is estimated that about 60% of its 105 million population live below or near the poverty line, only a few of them can afford to invest in high-end real estate.