The price of the US dollar stabilized during trading on Wednesday at the Central Bank of Egypt at LE 30.83 to buy and LE 30.93 to sell.
The price of the dollar in banks:
Banque du Caire
LE 30.85 for sale LE 30.95 for sale
Commercial international bank
LE 30.85 for sale LE 30.95 for sale
Arab African International Bank
LE 30.85 for sale LE 30.95 for sale
ALEXBANK
LE 30.85 for sale LE 30.95 for sale
Abu Dhabi Islamic bank
LE30.9 for sale LE 30.95 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
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 took into account an increase in the exchange rate of the dollar 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.
Shawky referred to a new partnership between Egypt and the World Bank, under which funding will be provided to Egypt worth $1 billion a year from 2023-2027, in addition to $2 billion, making a total of $7 billion.
The strategy is focused on it focus on boosting the role of the private sector in development, while creating new private sector employment opportunities and improving the private sector working environment to achieve comprehensive recovery and sustainable growth.
