© Reuters.
Investing.com – It seems that the Egyptian pound is refusing to give in to the levels priced in the futures contract, which I predicted more than 36 pounds.
On the other hand, gold rose in Egypt within 5 pounds, after falling to its lowest level since last December 10, about 70 days.
Meanwhile, Egyptian stocks gave up their gains in early trading, to suddenly fall before the end of trading today, Sunday, for the second session in a row.
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gold today
It rose in the Egyptian market today, Sunday, during trading, and the gram increased by 5 pounds, compared to its level yesterday, Saturday, when it fell to the bottom of 70 days.
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The price of 14 karat gold increased to 1127 pounds per gram.
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The price of 18 karat gold rose to about 1449 pounds per gram.
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The price of 21 karat gold rose to 1690 pounds per gram.
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The price of 24 karat gold rose to about 1931 pounds per gram
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The price of the gold pound increased to 13,520 pounds.
pound today
Despite the extremely negative expectations of derivatives traders that the Egyptian pound will witness a new decline in the range of 18%, the Egyptian currency managed to stabilize during Sunday’s trading.
The agency said that futures contracts for a period of 12 months for the Egyptian pound fell 1.2% to 36.025 pounds against the dollar for the first time, as derivatives traders believe that the pound will weaken by about 18% from its current levels.
In national banks, exchange rates stabilized at levels of 30.52 pounds per dollar for sale and levels of 30.42 pounds per dollar for purchase in the National Bank of Egypt and Banque Misr during Sunday’s trading.
In private banks, the exchange rate of the dollar against the pound stabilized at levels of 30.62 pounds per dollar for sale, while the purchase price recorded 30.57 pounds per dollar today, Sunday.
According to data from the Central Bank of Egypt today, Sunday, the exchange rate of the dollar stabilized at levels of 30.6234 pounds per dollar for sale, while it recorded levels of 30.5222 pounds per dollar for purchase.
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early rise
Egypt’s Stock Exchange indices rose collectively today, Sunday, before turning towards the end of trading to a collective decline, and the main index of the Egyptian Stock Exchange rose by 0.57%.
Market gains in early trading amounted to about 4 billion pounds, and the market capital rose during the beginning of trading to 1.111 trillion pounds, compared to 1.107 trillion pounds at the end of last week’s trading.
turning to land
On the other hand, the Egyptian Stock Exchange ended Sunday’s trading with a decline amid the sales pressures of foreign dealers, and the market capital lost 9 billion pounds at the level of 1.096 trillion pounds.
The EGX30 index declined by 0.93% to close at 17326 points, and the EGX30 total return index decreased by 1.01% to close at 7133 points.
