On Monday, the price of the US dollar continued to stabilize for the fourth consecutive week in Egyptian banks.
Worldwide, the dollar index recorded a new increase on the stock exchange of 0.11 percent.
Daily update on the exchange rate of the dollar in Egypt:
Al-Masry Al-Youm assesses the price of the dollar today in the National Bank, the Central Bank and the rest of the Egyptian banks:
Banque Misr LE 30.75 for sale LE 30.85 for sale
National Bank of Egypt LE 30.75 for sale LE 30.85 for sale
Central Bank of Egypt LE 30.83 for sale LE 30.96 for sale
Commercial international bank LE 30.85 for sale LE 30.95 for sale
Suez Canal Bank LE 30.85 for sale LE 30.95 for sale
Bank for housing construction LE 30.85 for sale LE 30.95 for sale
Arab African International Bank LE 30.85 for sale LE 30.95 for sale
Banque du Caire 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