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Dollar prices against the pound sterling on Saturday 7-9-2019 stabilized in most banks after declines last week.
The dollar against the Egyptian pound recorded a significant drop in last week's trading, losing about 6 piastres, bringing the central bank price down to 16.42 pounds at the time of purchase and 16.54 pounds at the end of the day. the sale.
Price of the day on the black market:
The dollar is relatively stable on the black market, recording an average price of 16.55 pounds, due to the calm demand of the US currency and the availability of supply in the Egyptian market, which has resulted in a recession of dollar demand.
US dollar prices in banks today
Central Bank: 16,423 – 16.54
Bank Misr 4:45 pm – 4:55 pm
National Bank 16:45 to 16:55
Bank of Cairo 16.45 – 16.55
Bank of Alexandria
Commercial International Bank 16.42 – 16.52
Islamic Bank of Abu Dhabi 16.53 – 16.63
Bank Audi 16.44 – 16.54
The reasons for the dollar's decline against the pound sterling:
The depreciation of the dollar against the British pound since the beginning of 2019, as Egypt implemented a program of economic reforms encouraging foreign investors to inject indirect investment, pushed the dollar down against to the pound sterling.
Finance Minister Mohamed Maait said that Egypt had recorded a considerable amount of foreign investment after the decision to launch the $ 24 billion pound sterling.
Maait said in previous statements to the press on the sidelines of the Canadian-Egyptian Business Council that foreign investors' confidence in the Egyptian economy was the main reason for attracting these investments, and not the rates of interest. High interest of the pound.
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