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The dollar exchange rate has stabilized against the pound sterling on the black market and banks, Friday,
Despite the optimism that the pound will continue to outperform He makes new gains against the greenback To reach levels of 15 pounds, after
Earn 13 piastres during the first two weeks of September.
Price in dollars on the black market:
A large number of resellers on the black market, prices in dollars
Stabilized at 16.37 pounds on purchase and 16.47 pounds on sale, With the drop in buying interest on the dollar.
A foreign exchange owner in Dokki pointed out that the dollar is highly available
In exchange
In banks, dollar prices stabilized at around £ 16.37 and £ 16.47 at the time of purchase.
The dollar loses 13 piastres in two weeks:
The dollar has suffered heavy losses against the pound since the start of trading
September to date, where losses during this period amounted to about 13 piastres.
The losses of the dollar were the largest in the first week of September, which fell
6 piastres worth 16.44 LE at the purchase and 16.54 LE at the sale
Central bank.
The dollar deepened its losses in the second week of September to lose
In the 5 piastres, reach 16.37 LE for the purchase and 16.47 LE for the sale.
The reasons for the decline of the dollar:
Sahar Damati, a banking expert, pointed out that the dollar's decline against the pound sterling,
Due to the high availability with the rise of various foreign currency earnings of the country.
The "Damati" at "dawn", as cash flow entering the state has increased significantly after
Implementation of the process of economic reform of remittances of Egyptians abroad, income of the chain
Suez and exports. "
She noted that the decline in imports due to the replacement of certain goods
Domestic imports in relation to imports encouraged the decline of the dollar.
Impact of the decline of the dollar on the state budget:
The dollar has dropped significantly compared to the reference price in the general budget
For the state of 17.46 pounds for the 2019-2020 fiscal year.
She explained, "Damati" that the impact of the continued decline in dollar prices
Much of the target price will help reduce the budget deficit that the state is working for me
Achieve and reduce debt interest paid by the state.
Optimistic outlook for the dollar:
Damati predicted that the dollar would continue to fall against the pound with a rise
Foreign investments Indirect,
And increase state revenue in hard currency.
Finance Minister Mohamed Maait said indirect foreign investment had increased
At 20 billion levels Dollars, end of August
$ 16 billion end of June.
When the dollar reaches 15 LE:
Alia El Mahdi, professor of economics at Cairo University, expects the dollar to arrive
At 15 pounds in the middle of next year, if the economy continues to improve performance.
"Alia" said "dawn", I expect the dollar to be registered
The end of the year 2019 of 16 books. The performance of the economy is encouraged by the prices
The current level is very close to reaching LE16 levels by the end of the year.
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