dollar price—
The Shuaa Investment Bank stated during a recent report that the price of the dollar is expected to witness stability during the next two years against its current level against the pound, as the price of the dollar at the end of the current fiscal year will reach 15.68 pounds, while it will continue to decline to record at the end of the next fiscal year 15.51 pounds, and the pound recorded a strong performance during its trading against the dollar.
Where he succeeded during the past year and since February to break the 16-pound barrier. The price of the dollar in Egypt and Al-Ahli Bank during Sunday’s trading recorded 15.81 pounds for sale and 15.71 pounds for purchase. During the past year, the pound recorded a significant increase against the dollar by 12%, due to three One of the main factors, is the reason behind the appreciation of the Egyptian pound again after the floating decision.
Dollar price forecast
Among these factors is the improvement of tourism and cash transfers, which contributed significantly to the improvement of dollar flows, as tourism revenues recorded a significant increase during the past year, and according to the expectations of Colliers International, a specialist in real estate research and consulting, Egypt’s revenues from Tourism 2019 recorded $ 16.4 billion.
The flow of hot money into treasury bonds was among the factors that raised the value of the pound, and hot money means foreign investment in Egyptian treasury bonds and bills, and hot money flows during the recent period have proven their ability in the short term to move the exchange rate, and according to the report, the relationship Between flows and the exchange rate is expected to continue throughout the current year.
Which, in turn, will lead to an increase in the value of the pound against the dollar, before the start of the gradual decline due to other factors such as the current account deficit and inflation, and during the current and next fiscal years, Egypt will repay external loans worth $ 16.5 billion every year, of which 14.4 billion dollars are due to countries. Arabic, which means that the loan schedule is crowded.
And Egypt’s external debt reached at the end of last September to 109.4 billion dollars, according to what the Egyptian Central Bank announced, during the first quarter of this fiscal year, Egypt repaid $ 2.9 billion of external debt.
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