The price of the dollar today, Wednesday, February 26, 2020 in Egypt, the price of the dollar rose slightly today in most of the bank by a value ranging from two piasters to 3 piasters, and the price of the dollar on the black market also increased by 5 piasters, and the price of the dollar rose today in Bank Audi and Piraeus Bank, and Egypt Iran Development, Al Baraka, Suez Canal and Credit Agricole, with a value of 5 piasters, recording 15.55 pounds for purchase and 15.65 pounds for sale.
The price of the dollar also rose today by the value of two piasters in the United Bank, the Egyptian Gulf Bank, the Housing and Development Bank, and the HSBC Bank, recording 15.55 pounds for purchase and 15.65 pounds for sale.
It is worth noting that the report of the Ministry of Planning and Economic Development indicated that the government revealed the reasons that push the pound to a gradual and continuous improvement in front of the American currency, as the report came indicating that the export proceeds increased by about 300 million dollars during the first quarter of the fiscal year 2019/2020 compared to the same period. From the previous fiscal year, he also pointed out that imports decreased by about 700 million dollars during the first quarter of the current fiscal year compared to the same period in the previous fiscal year.
The report also indicated indicators of a significant increase in net foreign direct investment during the first quarter of the current fiscal year to 2.35 billion dollars, an increase of 66% compared to the first quarter of the previous fiscal year, as well as remittances from Egyptians working abroad, which witnessed a significant increase during the first quarter of the year The current fiscal year, to $ 6.71 billion (the highest value of remittances of workers abroad, up 14%.
The price of the dollar today in banks and the parallel market
Table of dollar prices in banks and parallel.
The price of the dollar today on the black market
The price of the dollar fell today on the black market to 15.57 pounds for purchase and 15.62 pounds for sale.
It is worth noting that there are extensive restrictions on the part of the Egyptian government, as it restricted black market traders during the past months.
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“Egypt 365” provides the latest update of the dollar price today in banks operating in Egypt and the black market, the latest movements of the dollar price today on the black market and ATMs, and the “Egypt 365” website provides comprehensive and instant coverage of the dollar price today in the official local market and the parallel market.
Dollar price today Dollar price forecast
Some economic reports and studies stated that the continued rise of the pound against the dollar will not last for long, contrary to other expectations. See this report: The Economist: sharp fluctuations in the price of the pound and the stability of its price in 2024.
An economist said that the rise in the monetary reserve to new highs, after the increase reached about 150% since 2013, thanks to the increase in financial transfers for Egyptians abroad, as well as a significant recovery of the tourism sector, along with an increase in natural gas exports abroad, gave the economy a significant increase in the hard currency : An economic expert expects the Egyptian currency to drop against the dollar to 13 pounds.
The volume of foreign reserves at the Central Bank of Egypt increased at the end of December 2019 to $ 45.420 billion, compared to $ 45.354 billion, an increase of about $ 66 million.
According to the central bank report, Egypt imports an equivalent of an average of $ 5 billion a month of goods and products from abroad, with an annual total estimated at more than $ 55 billion, and therefore the current average of foreign exchange reserves covers about 8 months of merchandise imports to Egypt, which is higher than The global average of about 3 months of merchandise imports to Egypt, which secures Egypt’s basic and strategic commodities needs.
The Egyptian pound rose, whose exchange rate was liberalized in late 2016 as a result of a crisis in foreign currencies, which increased the attractiveness of investing in debt instruments in the local currency last year, which recorded a very attractive return of about 15% on local bonds, in addition to Economic reforms that Egypt witnessed in the recent period.
The emergence of the US dollar
The dollar is the base currency of the United States of America, and is equal to 100 cents, and the dollar is denoted by the symbol “USD, or $”. The largest denomination of the dollar reaches 100,000 per paper. For $ 100 USD.
It should be noted here that the global currency must be covered with its value of the yellow metal “gold”, to give it sufficient confidence, and the US dollar must be covered with its value of the yellow metal, but in reality no one can actually prove this because the United States of America has refrained since Not long after replacing the US dollar with an equivalent value of gold, although the price of gold is sold globally in US dollars, and the price of gold is determined according to the stock exchange and is valued in the American currency.
The United States of America lifted the gold cap on the US dollar during 1973, after Charles de Gaulle asked the President of France to replace what is available with the French Central Bank with US dollars in gold equivalent. Since this year, the real value of the American currency has decreased by nearly 40 times.