Keep on The price of the dollar in Egypt Its rally against the pound in a number of banks today, Tuesday, reaches the level of 24.25 pounds on sale, compared to around 24 pounds on buying in a number of banks.
And at the Central Bank of Egypt today, the official price of the US currency registered a level of 24.11 pounds for the purchase and 24.24 pounds for the sale, from 24.07 pounds for the purchase and 24.17 for the sale.
In Al-Ahly and Egyptian banks, the dollar exchange rate against the Egyptian pound registered a level of 24 pounds for buying, 24.1 for selling.
In the Commercial International Bank of Egypt, the exchange rate of the dollar against the Egyptian pound reached 24.03 pounds for the purchase, 24.13 for the sale. Egyptian pound reached 24.15 pounds per purchase, 24.25 pounds on sale.
In the Islamic Bank of Abu Dhabi, the exchange rate of the dollar against the Egyptian pound reached 24.16 pounds for the purchase, 24.25 pounds for the sale, while in the Bank of Alexandria the exchange rate of the dollar against the pound reached 24.1 pounds for purchase, 24.2 pounds for sale.
And on Thursday, following the decision to raise interest rates and reduce the value of the Egyptian pound against the US dollar, the Central Bank of Egypt revealed that it will adopt a flexible exchange rate system, prioritizing the primary goal of achieving price stability. He explained that the exchange rate of the value of the Egyptian pound against other foreign currencies will change according to the forces of supply and demand.
He explained that he will work to build and develop the financial derivatives market with the aim of deepening the foreign exchange market and increasing levels of foreign liquidity.
The Central Bank of Egypt has indicated that the exchange rate will reflect the value of the pound against other currencies through the forces of supply and demand, under a flexible exchange rate system, with priority given to the central objective of achieving price stability. He stressed that reform measures have been taken in the light of the above to ensure macroeconomic stability and achieve sustainable and global economic growth.
