A sudden rise in the price of the dollar in banks .. And a banker: natural due to the “Corona” crisis

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The local exchange market witnessed, on Monday, a sudden rise in the price of the dollar against the pound, in banks and exchanges, supported by the impact of foreign exchange resources and declining supplies against the backdrop of the Corona pandemic crisis.

The price of the American currency rose about 3 piasters at one time due to the decrease in the supply of dollar resources due to the impact of tourism revenues and transfers of Egyptians working abroad in light of the increasing spread of the Corona virus, as the price of the dollar in the National Bank of Egypt and Egypt – the largest government bank – reached 15.86 pounds to buy, And 15.96 pounds for sale, while its price increased in a number of private and investment banks to 15.88 pounds for purchase, and 15.98 pounds for sale.

Youssef Farouk, a banking expert, estimated the rise in the price of the dollar locally since the outbreak of the Corona virus at the end of February last at about 25 piasters, and described the increase in the price of the American currency naturally in light of the foreign exchange resources affected from its various sources after the great closure of all economic, investment and financial activities globally and locally. .

And “Farouk” expected, in private statements, the continued rise in the price of the dollar against the pound if the current situation continues as it is, but praised the professionalism of the central bank management of the crisis in accordance with resources, liquidity and monetary policy tools.

On the other hand, the Central Bank of Egypt announced, Monday, the amendment of working hours in banks starting from Tuesday, the second of June, to become from eight in the morning until three in the afternoon for employees, and included new dates for the work of banks for the public from eight in the morning until two in the afternoon
In its decision on the new dates, the Central Bank took into account the decision of the Prime Minister to amend the dates of the ban on road traffic to become from eight in the evening until five in the morning instead of six.