4:54 PM
Friday 17 January 2020
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I wrote – Shaima Hefzy:
The dollar exchange rate continued to decline against the pound during the trading week last week, for the second week in a row, according to data from the National Bank of Egypt.
According to the bank’s data, the price of the dollar at the end of trading yesterday, recorded 15.80 pounds for purchase and 15.90 pounds for sale, compared to 15.95 pounds for purchase and 16.05 pounds for sale, last Thursday.
Since last Thursday, the dollar has lost 15 piasters against the pound, thanks to which it attracted large foreign investments in government debt instruments, which supported the pound’s price against the American currency.
The average price of the dollar in the Central Bank fell during the past week, by about 16 piasters.
The average price of foreign currency yesterday, 15.78 pounds for purchase, 15.88 pounds for sale, compared to 15.94 pounds for purchase and 16.04 pounds for sale last Thursday.
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