The dollar’s price continued to decline today in Egypt, and it lost about 6 piasters, on Friday, March 25, 2022, in exchange companies and automated teller machines.
Friday and Saturday are official holidays for Egyptian banks.
And for the second day, the price of the dollar in Egypt is declining, since the Central Bank of Egypt raised the interest rate last Monday, and corrected the price of the Egyptian pound.
What the Egyptian pound lost from its value against the dollar decreased to only about 16.60% at the beginning of Friday’s trading, in the Egyptian banking market, compared to its loss of about 16.98% of its value against the dollar at the beginning of Thursday’s trading.
The prices of the remaining major foreign and Arab currencies also decreased against the Egyptian pound, in Friday’s trading, in exchange companies and automated teller machines.
The price of the dollar today in Egypt
The average price of the dollar in Egypt, according to the data of the Central Bank of Egypt, decreased to about 18.26 pounds for purchase, and 18.36 pounds for sale, compared to about 18.32 pounds for purchase, and 18.42 pounds for sale, yesterday.
According to a survey by “Al-Ain News” of prices in 29 banks, the average price of the dollar reached about 18.26 pounds for purchase, and 18.36 pounds for sale.
The highest price of the dollar today in Egypt
The highest price of the dollar came at about 18.32 pounds for purchase, and 18.42 pounds for sale, at Abu Dhabi Islamic Bank and Blom Bank Egypt.
The price of 18.25 pounds for purchase, and 18.35 pounds for sale, dominated the dollar’s transactions in 10 banks, including Commercial International, Alexandria, Al-Baraka, HSBC, and the Arab International Bank.
While the price of the dollar in Al-Ahly Bank and Egypt recorded about 18.28 pounds for purchase, and 18.38 pounds for sale, which is the lowest price for the dollar in Egypt.
What do Egyptians gain from the IMF program?
Egyptian Prime Minister Mostafa Madbouly revealed the details of his country’s request for new funding from the International Monetary Fund, and the extent of its impact on the people.
In press statements, Madbouly said that cooperation with the IMF confirms the strength of the Egyptian economy and the confidence of international financial institutions in Egypt.
The Egyptian Prime Minister stressed that the Egyptian people will not bear any burdens from the new cooperation with the IMF.
Madbouly stated that despite the current conflict, the economic crisis in Egypt is less than other countries and the Egyptian citizen bears less than other countries, and did not bear all the burdens resulting from the war, and the state absorbed a large part of the shock and the other part on the citizen, because the state cannot bear All shock in the medium term.
Egypt has resorted to the International Monetary Fund to request support to implement its comprehensive economic program, according to a statement from the International Monetary Fund yesterday, Wednesday.
The Egyptian government had earlier announced several decisions to limit the effects of the pound’s floatation after the decision to raise the interest rate by 1%.
The decisions included allocating 130 billion pounds to deal with these repercussions, as well as a decision to issue a new one-year savings certificate at an annual interest rate of about 18%, in addition to a number of other measures.
The price of the euro and the pound sterling today in Egypt
The average price of the European euro decreased, according to the Central Bank of Egypt website, to about 20.05 pounds for purchase, and 20.16 pounds for sale, compared to about 20.13 pounds for purchase, and 20.24 pounds for sale, yesterday.
The average price of the pound sterling in the banking market, according to the Central Bank of Egypt, also decreased to about 24.09 pounds for purchase, and 24.23 pounds for sale, compared to about 24.17 pounds for purchase, and 24.31 pounds for sale, yesterday.
The prices of the riyal, dirham and dinar today in Egypt
The average price of the Saudi riyal decreased, according to the Central Bank of Egypt website, to about 4.87 pounds for purchase, and 4.89 pounds for sale, compared to 4.88 pounds for purchase, and 4.91 pounds for sale, yesterday.
The average price of the UAE dirham, in the banking market, according to the Central Bank of Egypt, also decreased to about 4.97 pounds for purchase, and 5.00 pounds for sale, compared to 4.98 pounds for purchase, and 5.01 pounds for sale, yesterday.