[ad_1]
Expert: Indicators improve among them tourism, exports and remittances have peaked
The Egyptian pound has reached its highest level in foreign currency for over two years against foreign currencies, thanks to an increase in foreign currency flows in the country.
The exchange rate of the British pound against the dollar rose 17.34 pounds sterling for a dollar Sunday, up more than 3% from the level of 17.86 in January.
"Most indicators improve: tourism and exports, local production of natural gas replacing imports and remittances, and foreign direct investment up slightly."
Farahat added that "the increase in flows is due in large part to the abandonment by Egypt of the fund transfer mechanism of foreign investors, which guarantees investors wishing to sell their holdings of securities securities. State to transfer their money abroad in dollars ".
He pointed out that the cancellation of the transfer mechanism affected all the money coming into the country, which was reflected directly in the interbank liquidity, which directly affected the fluctuations of the pound sterling against the dollar.
Economists say the central bank, since it released the pound in 2016, and that it has fallen to about half of its value, has tightened its hold on the value of the local currency, which has not won in force since March 2017.
Supported by increased flows, the Egyptian pound reaches its highest level in two years
Already electronic newspaper
previously
2019-03-18
The Egyptian pound has reached its highest level in foreign currency for over two years against foreign currencies, thanks to an increase in foreign currency flows in the country.
The exchange rate of the British pound against the dollar rose 17.34 pounds sterling for a dollar Sunday, up more than 3% from the level of 17.86 in January.
"Most indicators improve: tourism and exports, local production of natural gas replacing imports and remittances, and foreign direct investment up slightly."
Farahat added that "the increase in flows is due in large part to the abandonment by Egypt of the fund transfer mechanism of foreign investors, which guarantees investors wishing to sell their holdings of securities securities. State to transfer their money abroad in dollars ".
He pointed out that the cancellation of the transfer mechanism affected all the money coming into the country, which was reflected directly in the interbank liquidity, which directly affected the fluctuations of the pound sterling against the dollar.
Economists say the central bank, since it released the pound in 2016, and that it has fallen to about half of its value, has tightened its hold on the value of the local currency, which has not won in force since March 2017.
March 18, 2019 – 11 Rajab 1440
The time now is 08:57 AM
Expert: Indicators improve among them tourism, exports and remittances have peaked
The Egyptian pound has reached its highest level in foreign currency for over two years against foreign currencies, thanks to an increase in foreign currency flows in the country.
The exchange rate of the British pound against the dollar rose 17.34 pounds sterling for a dollar Sunday, up more than 3% from the level of 17.86 in January.
"Most indicators improve: tourism and exports, local production of natural gas replacing imports and remittances, and foreign direct investment up slightly."
Farahat added that "the increase in flows is due in large part to the abandonment by Egypt of the fund transfer mechanism of foreign investors, which guarantees investors wishing to sell their holdings of securities securities. State to transfer their money abroad in dollars ".
He pointed out that the cancellation of the transfer mechanism affected all the money coming into the country, which was reflected directly in the interbank liquidity, which directly affected the fluctuations of the pound sterling against the dollar.
Economists say the central bank, since it released the pound in 2016, and that it has fallen to about half of its value, has tightened its hold on the value of the local currency, which has not won in force since March 2017.
[ad_2]
Source link
