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Egypt’s Dollar Exchange Rate Plummets to Record Low After $35 Billion Investment Deal Announcement

Abdel Halim Salem wrote Saturday, February 24, 2024 10:51 PM

An area development project deal was successful The head of wisdom In dealing a strong blow to the dollar in the parallel market, after its price fell this evening to 48 pounds, down from 62 pounds a few days ago, and before the announcement of the historic investment deal.

Trading on the dollar declined on the black market in Egypt today amid intense sales operations to get rid of the American currency. On the other hand, the parallel market witnessed an almost complete halt and the absence of buyers with the continued decline, as the dollar is expected to decline to about 40 pounds.

We publish the price of the dollar today on the black market, Saturday, February 24, 2024, after a noticeable decline in the price of the dollar on the parallel market during the past hours after Egypt announced that it had reached an agreement on developing the Ras El Hekma project, which will provide urgent liquidity amounting to $35 billion within two months.

The price of the dollar today on the black market in transactions on Saturday, February 24, 2024, recorded a noticeable decline to levels of 48 pounds, amid a noticeable volume of dealers in this market.

The price of the dollar today on the black market was recording high levels over the past months, about 75 pounds, before a major downward journey began, bringing the price to levels of 48 and on its way to falling further.

These declines came minutes after the Council of Ministers announced the injection of new investments amounting to $35 billion within the Ras El Hekma project, which caused great confusion in the parallel market and the lack of knowledge of the real price of the American currency.

2024-02-24 20:51:00
#Ras #AlHikma #drops #dollar #pounds #black #market #decline #pounds

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