The global dollar index continued to rise at the beginning of the stock exchange trading on Monday by 0.42 percent, recording US$102.285.
The price of the dollar today in Egyptian banks:
- Suez Canal Bank
- LE30.85 for purchase
- LE 30.95 for sale
- Banque du Caire
- LE30.85 for purchase
- LE 30.95 for sale
- Arab African International Bank
- LE30.85 for purchase
- LE 30.95 for sale
- Suez Canal Bank
- LE30.85 for purchase
- LE 30.95 for sale
- ALEXBANK
- LE30.85 for purchase
- LE 30.95 for sale
- Banque Misr
- LE30.75 for purchase
- LE 30.85 for sale
- National Bank of Egypt
- LE30.75 for purchase
- LE 30.85 for sale
- Central Bank of Egypt
- LE30.84 for purchase
- LE30.96 for sale
The Monetary Policy Committee of the Central Bank of Egypt raised its key interest rates by 200 basis points (bps) on Thursday, setting the overnight lending rate at 19.25 percent and the overnight deposit rate at 18.25 percent.
The Central Bank of Egypt also raised the credit and discount rate by 200 basis points, to reach 18.75 percent.
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.
