Today, Tuesday, March 28, 2023, the price of the dollar rose on the black market by about 3 pounds against the Egyptian pound.
Sources told The Weekly that the price of the dollar against the pound increased today in the parallel market, bringing the buying and selling price to 38 and 37.5 pounds, respectively, compared to 35 pounds on Monday.
The sources indicated that the average price of the dollar increased today against the background of the local market’s anticipation of the interest rate decision of the Central Bank of Egypt next Thursday, and amid expectations that the decision will coincide with a new decline in the price of the pound against the dollar at the end of this week.
Dollar forecast
– Expectations issued by HSBC Bank last week saw that the Egyptian exchange market would reach a new devaluation of the pound, up to an average price of 35 and 40 pounds against the dollar, in the medium term.
– Credit Suisse also expected that the price of the dollar against the pound in the short term would reach levels of 35 pounds.
On the other hand, the French Societe Generale believes that the price of the dollar against the pound will reach levels of 34 pounds by the end of March.
The price of the dollar today
The average buying and selling price of the dollar against the pound in Egyptian banks today, Tuesday, March 28, recorded about 30.95 pounds and 30.85 pounds, respectively.
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