Written by Islam Saeed Tuesday, February 27, 2024 10:35 AM We publish the latest update in Dollar prices On the black market today, Tuesday, where the prices of all foreign currencies recorded a noticeable decline over the past days following the announcement of the Ras al-Hikma deal, which injects urgent dollar liquidity at the rate of 35 billion dollars into the arteries of the economy within approximately two months.
The price of the dollar on the black market today reached a price ranging between 47 and 48 pounds, and the buying and selling movement stopped with the reluctance of merchants to buy the US dollar from its holders.
The current liquidity of the dollar is considered the secret behind the fall of the dollar in the parallel market below 50 pounds in transactions following the announcement by the Council of Ministers of huge projects on the way that will provide dollar liquidity in the markets, as the current liquidity is considered the easiest way to limit speculation on the dollar and manage through… Banks would be the ideal solution to reduce the demand for the parallel market dollar and thus its price would fall.
In this context, Khaled Suleiman, a member of the Chambers of Commerce and Vice President of the Clothing Division, said that procuring the dollar from the official banking sector during the coming period will be the decisive and main factor in reducing the dollar on the black market, indicating that resorting to the black market will decrease significantly with the government’s success in procuring The dollar in official banks.
In private statements, Suleiman pointed out that the dollar in the Egyptian market has turned into a commodity, and this is the most dangerous thing about it. Therefore, it was necessary to announce the details of the upcoming projects to bring in dollar liquidity because the parallel market is driven by rumours, so as soon as imminent liquidity was announced, we witnessed the dollar’s decline.
2024-02-27 08:35:00
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