2023-05-26 11:36:00
02:36 PM
Friday, May 26, 2023
dollar exchange rate
I wrote – Manal Al-Masry:
The price of the dollar rose again in the black market for currency trade (the parallel market for currency trade illegally) between 3 and 5 pounds during the current week’s trading, after it declined in the previous week.
Two observers told Masrawy working in exchange companies, that the conversations of the public who frequented their branches revealed an increase in the exchange rate of the dollar on the black market, between 38.5 pounds to 39 pounds, compared to about 34 pounds and 36 pounds the previous week.
Despite the rise, the price of the dollar in the parallel market is still below the high levels it reached at the beginning of the month, when it recorded about 40 pounds.
Two sources of exchange company officials attributed the return of the dollar in the parallel market to the continued shortage of supply and the increase in demand among customers to buy currency in exchanges and banks. The first half of last year due to the Russian-Ukrainian war and the preference of foreigners to invest in safer currencies such as the dollar and the euro.
The average price of the dollar in banks recorded between 30.84 pounds for purchase and 30.94 pounds for sale, until the end of yesterday’s trading.
After the government’s decision to allow gold to enter without customs, the price of the dollar declined during last week’s trading between 4 to 6 pounds on the black market during the past week, to fall from the highest point the dollar reached two weeks ago when it reached about 40 pounds, according to observers, before it rose again in the middle of the year. this week.
And the government resorted, about two weeks ago, to issue a decision to allow entry of those coming from outside Egypt with their gold (without specific quantities) without counting customs to control the gold market, which went through a state of price chaos, a jump in demand. An observer in a major exchange company added that the company’s branches are working on Providing the dollar to customers according to the small proceeds available in each branch and according to the number of requests submitted, which does not meet most of the requests submitted.
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