price in dollars.. come closer price in dollars On the black market, its value in banks fell after seeing a drop of £12 from the £38 level to £26, which has come as a major blow to currency traders in recent days.
At the national and central bank levels, the dollar’s exchange rate against the Egyptian pound stabilized today, Monday, in most banks for the seventh consecutive day, while it declined sharply globally in recent days, record of low levels.
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The black dollar collapsed, which illustrates the extent of the state’s successful efforts to eliminate the parallel market harming the state and citizens and achieve market stability, as confusion and confusion dominated the traders of the parallel market harming the national interests, as the dollar exchange rate continued its sharp decline after the Central Bank’s decision to raise the price of the Interest is 300 basis points, equal to 3%, with the approval by the IMF International loan of 3 billion dollars to Egypt.
raise interest rates
Perhaps the most important reason for the stability of the Egyptian pound is the decision of the Central Bank of Egypt to raise the interest rate on bank transactions for the second time in a row to lighten the pound and support it against other currencies, by 3%, equal to 300 basis points, during a meeting of the Monetary Policy Committee chaired by Hassan Abdullah, Governor of the Central Bank.
In a statement issued by the bank, the bank set the deposit repayment rate at 16.25%, the overnight loan rate at 17.25%, the central bank’s main operation rate at 16.75%. % and the interest rate on credit and discount was raised to 16.75%, which strengthened the value of the pound.
IMF loan
The price of the dollar stabilized after the International Monetary Fund announced in the early hours of Saturday morning, December 17, at its Executive Council meeting, its approval to grant Egypt a $3 billion loan for a period of 46 months and, as a result, the price of the dollar collapsed in the parallel market as soon as the first tranche of the loan was approved.
Prices in dollars globally
The greenback fell globally, hitting lows for the first time in months, according to the major dollar index (DXY), which measures the greenback against 6 major currencies.
The US currency recorded a sharp decline according to the dollar index against the rest of the currencies, registering 104.32 points, while it exceeded 114 points last September, according to the “Wall Street Journal”.
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