The price of the dollar in Egypt Friday, August 2, 2019

The dollar settled Friday in Egypt against the Egyptian pound in foreign exchange companies, ATMs and bank branches at airports and major hotels, for an average purchase price of 16, £ 52 against £ 16.62 for sale.

The dollar at the National Bank, the largest state-owned bank, was £ 16.53 for the purchase and £ 16.63 for the sale, the same price with the banks of Egypt and the pond and the bank of the Arab Banking Corporation and the Greek and Egyptian gulf.

The dollar sits at the Islamic Bank of Abu Dhabi, recording the highest price of the US dollar to buy and buy, to buy 16.55 pounds and sell 16.63 pounds.

The dollar price at Commercial International Bank was the largest private bank in Egypt, registering £ 16.50 for the purchase and £ 16.60 for sale, the same price at the Bank of Alexandria, United Bank, Reconstruction and Housing, registering the lowest dollar price of Egyptian banks.

While the dollar price in return banks, Credit Agricole and Arab African for 16.52 pounds to buy for 16.62 pounds on sale.

The price of the dollar against the Egyptian pound lost about 15 dollars in July 2019 and the pound managed to maintain its strong performance against the US dollar in the same month, from 16.65 to 16.50 pounds. to purchase against 16.75 to 16.62 pounds for sale.

On Wednesday, the US Federal Reserve lowered its interest rate between 2 and 2.25% due to "uncertainties" hovering over the global economy and "lingering weakness" in inflation.

Fitch Ratings expects the pound to continue to appreciate the US dollar in the second half of this year, which will put additional pressure on non-oil exports, which have increased only 0.3% year-over-year in the first quarter of 2019.

Data from the Egyptian Central Bank showed Wednesday that the money supply of Egypt (M2) rose 11.85% in June.

The money supply amounted to E3,764 billion ($ 234 billion) at the end of June, compared with E3,797 billion a month earlier. Money supply increased by 11.65%.

For the rest of the foreign currencies, the average price of the euro compared to the price of yesterday was about 7 piastres to buy 18.22 pounds to buy, while the price 18.42 pounds and the average pound sterling fell below the 20-pound level to 19.97 pounds to buy and 20.22 pounds to sell.

According to data from the National Bank of Egypt, Saudi Riyal was £ 4.39 for sale and £ 4.43 for sale and £ 4.49 for United Arab Emirates for the purchase and 4.52 pounds on sale, a decrease of 4 Kuwaiti dinars yesterday. 54.24 EGP at the purchase and 54.61 EGP at the sale.