Global Courant
The price of the US dollar continued to stabilize Thursday with the Egyptian government and private banks, including the Central Bank of Egypt and the National Bank of Egypt.
The price of the dollar against the Egyptian pound at a number of Egyptian banks on Thursday was as follows:
Central Bank of Egypt
LE30.8349 for sale LE30.8349 for sale
National Bank of Egypt
LE 30.75 for sale LE 30.85 for sale
Banque Misr
LE 30.75 for sale LE 30.85 for sale
CIB Bank
LE 30.85 for sale LE £30.95 on sale
HSBC Bank
LE 30.85 for sale LE 30.95 for sale
Suez Canal Bank
LE 30.85 for sale LE 30.95 for sale
ALEXBANK
LE 30.85 for sale LE 30.95 for sale
US Dollar Price Forecast in Egypt
The US Federal Reserve is facing a problem, one of the main factors of which is the series of rate hikes in 2022, banking expert Ahmed Shawky said.
“If the US Federal Reserve does not set interest rates, they will be raised by up to 25 basis points, which will attract more investment to the dollar,” he added.
Shawky explained that in televised statements this move would negatively impact the performance of other currencies worldwide, especially emerging markets.
Shawky continued in televised statements that this move would negatively impact the performance of other currencies around the world, especially in emerging markets.
He expected an increase in the dollar exchange rate in Egypt by no less than ten percent in the near future.
Many international institutions also expect a rise in the price of the dollar against the pound soon, evidenced by the rise in future prices exceeding LE 40, he said.
Edited translation of Al-Masry Al-Youm
