05:40 PM
Saturday 07 May 2022
Books – Ahmed Khaled:
Ashraf Sharbas, head of the Automotive Division at the Giza Chamber of Commerce, expected car prices to rise during the coming period in case the US dollar exchange rate rises again.
Sharbas said in a statement to “Shift” that the increase in prices as a result of the increase in the value of foreign exchange against the Egyptian pound is not in the hands of the agent, explaining that the agent seeks to compensate for the high cost and the way to do this is to increase the price of the car.
He added that the rise in the interest rate on the US dollar will not affect car prices in the local market at the present time, unless the price of the dollar moves again in the coming days.
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