The price in dollars in Egypt on Friday, August 23, 2019

The average price of the dollar in Egypt is up against the Egyptian pound, where it has recorded 16.54 pounds to buy against 16.64 pounds on sale to foreign exchange companies, ATMs and bank branches in the United States. airports and big hotels, yesterday and Friday.

The dollar at the National Bank, the largest state-owned bank, recorded 16.52 pounds on the purchase and 16.62 pounds on the sale, the same price at Bank Misr. It is the lowest price for the dollar.

The Islamic Bank of Abu Dhabi offered the highest dollar price, up about 3 piastres, to 16.56 pounds on the purchase and 16.65 pounds on the sale.

The American currency of Commercial International Bank Egypt, the largest private bank in the country, was worth £ 16.5 for the purchase, against £ 16.6 for sale, the same price in Al Baraka, Piraeus, Suez Canal , United Bank, Audi and Arab Banking.

The price of the dollar varied in the rest of the banks, where it reached reconstruction and housing banks and Ahli Greek at 16.53 pounds to buy versus 16.63 pounds for sale. Meanwhile, Crédit Agricole and Bloom reached LE 16.54 for the purchase and LE 16.64 for the sale.

The Egyptian central bank on Thursday decided to cut interest rates by 150 basis points, bringing the rate of deposits and loans to 14.25% and 15.25% respectively.

The Egyptian pound has gained about 7% against the dollar since the beginning of the year.

Net foreign exchange reserves reached $ 44.91 billion at the end of July, compared with $ 44.35 billion at the end of June.

With regard to other foreign currencies and according to the prices of the National Bank of Egypt, the purchase price of the euro fell by 3 piastres compared to yesterday's price, registering 18.27 pounds and selling 18 , 46 pounds and the price of a penny sterling registering 20 pounds to buy and sell 20.39 pounds.

As far as the Arab currencies are concerned, the price of the Saudi Arabian riyal was set at 4.40 pounds at the time of purchase and 4.43 pounds at the sale, the UAE dirham at 4.49 pounds at the purchase and 4.52 pounds for sale, and the price of the Kuwaiti dinar at 54.29 pounds to buy versus 54.67 pounds for sale.

In July, consumer price inflation in Egyptian cities fell from 9.4% in June to 8.7%, which surprised analysts who were expecting inflationary pressures to increase as a result. a new round of subsidy cuts that led to a 16 to 30% increase in fuel prices.