The price of the US dollar stabilized in mid-trading on Wednesday recording at the Central Bank of Egypt LE30.83 for purchase, and LE30.93 for sale.
The price of the dollar in banks:
Banque du Caire
- LE30.85 for purchase
- LE30.95 for sale
Commercial International Bank
- LE30.85 for purchase
- LE30.95 for sale
Arab African International Bank
- LE30.85 for purchase
- LE30.95 for sale
ALEXBANK
- LE30.85 for purchase
- LE30.95 for sale
Abu Dhabi Islamic Bank
- LE30.9 for purchase
- LE30.95 for sale
National Bank of Egypt
- LE30.75 for purchase
- LE30.85 for sale
Banque Misr
- LE30.75 for purchase
- LE30.85 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.
Shawky referred to a new partnership between Egypt and the World Bank, according to which a financing will be granted to Egypt at a value of one billion dollars annually from 2023-2027, in addition to two billion dollars, thus totaling seven billion dollars.
The strategy aims to focus on stimulating the role of the private sector in development, while creating new job opportunities for the private sector and improve the private sector’s work environment to achieve comprehensive recovery and sustainable growth.
