register The price of the dollar rose against the pound In today’s trading, by 7 piasters in Al-Ahly and Egypt banks.
And the price of the dollar in the Al-Ahly and Egypt government banks rose to 18.37 pounds for purchase, and 18.45 pounds for sale, compared to the level of 18.30 pounds for purchase and 18.38 pounds for sale in Sunday’s transactions.
The dollar exchange rate has witnessed an increase since last Wednesday, from 18.23 pounds for purchase and 18.33 pounds for sale.
The Central Bank of Egypt devalued the pound by 14% on March 21, in order to face imported inflationary pressures due to the war situation in Ukraine.
The central bank said reserves fell at the end of March to $37.082 billion from $40.994 billion at the end of February.
Reserves have stayed just above $40 billion since November 2020.
The Egyptian economy has come under severe pressure as investors’ appetite for emerging markets wanes in the wake of the Russian attack on Ukraine.
Egypt is a large importer of wheat from Russia and Ukraine, and both countries are important to Egypt’s tourism sector.