The price of the US dollar maintained its stability in conjunction with the Egyptian banking sector holiday which will end on Tuesday, so that banks will resume work on Wednesday, April 26.
The price of the dollar on Tuesday:
Central Bank of Egypt
LE30.83 for purchase
LE 30.95 for sale
National Bank of Egypt
LE30.75 for purchase
LE 30.85 for sale
Banque Misr
LE30.75 for purchase
LE 30.85 for sale
Commercial International Bank (CIB)
LE30.85 for purchase
LE 30.95 for sale
ALEXBANK
LE30.85 for purchase
LE 30.95 for sale
Abu Dhabi Islamic Bank
LE30.90 for purchase
LE 30.95 for sale
United Bank
LE30.85 for purchase
LE30.95 for sale
US dollar price forecast in Egypt
The US Federal Reserve is facing a problem, one of the most important factors of which is the interest rate hike series during 2022, Banking expert, Ahmed Shawky, said.
“If the US Federal Reserve does not fix the interest rate, it will raise by a maximum of 25 basis points, which will attract more investments to the dollar,” he added.
In televised statements, Shawky explained that this step would negatively affect the performance of other currencies worldwide, especially emerging markets.
Shawky continued, in televised statements, that this step would negatively affect the performance of other currencies worldwide, especially in emerging markets.
He anticipated a rise in the price of the dollar in Egypt in the coming period by no less than ten percent.
Many international institutions also expect a rise in the price of the dollar against the pound soon, which is evident from the rise in future prices which exceeded LE40, he said.
Edited translation from Al-Masry Al-Youm
