Egypt's currency weakened to 18.71 to the U.S. dollar on Wednesday, a five-year low, before strengthening again, Refinitiv Data showed.

The pound was bid at 18.71 to the dollar, its weakest since Feb. 2, 2017, when it weakened to as low as 18.78 pounds.

Egypt has been suffering from a shortage of foreign currency since the coronavirus pandemic chased away many tourists, international portfolio investors withdrew funds and the Ukrainian crisis pushed up commodity import prices. (Reporting by Patrick Werr; Editing by Toby Chopra)