The dollar exchange rate recorded new highs at the end of last week’s trading, but on the other hand, the dollar recorded successive losses on the black market.
On the official exchange market, the highest The exchange rate of the dollar once morest the Egyptian pound A level of 18.68 pounds for purchase, and 18.73 pounds for sale at Abu Dhabi Islamic Bank, Ahli United Bank and Egyptian Gulf Bank.
In 4 banks, led by Alexandria and Cairo, the American note recorded a level of 18.67 pounds for purchase, and 18.73 pounds for sale. While the dollar exchange rate recorded a level of 18.66 pounds for purchase, and 18.71 pounds for sale, in 3 banks led by the United Bank and Qatar National.
In 6 banks led by the National Bank of Egypt and Banque Misr, the dollar exchange rate reached 18.65 pounds for purchase, and 18.71 pounds for sale.
The lowest exchange rate for the dollar at the Arab Investment Bank was at 18.62 pounds for purchase, and 18.68 pounds for sale. While the price of the green American paper at the Central Bank of Egypt recorded a level of 18.64 pounds for purchase, and 18.75 pounds for sale.
In the parallel market, and on the social networking pages that follow the exchange market, the offer for sale of the US currency has increased by large percentages during the past days, with average prices reaching 18.75 for the lowest price, and 19.10 pounds for the highest price.
However, the movement indicates that there is no actual implementation, which reflects the state of anxiety that dominates the parallel market, especially with the banks raising the dollar exchange rates to approach the prices that are offered on the black market.
A few days ago, the Central Bank of Egypt announced a decrease in net international reserves by regarding two billion dollars, following it recorded regarding 35.4 billion dollars at the end of last May, compared to 37.1 billion dollars in the previous month, April.
The Central Bank of Egypt attributed the decline in foreign currency cash reserves, in an official statement, to Cairo’s repayment of a package of debts amounting to regarding two billion dollars during last May, explaining that the debts that were paid out of the cash reserve balance were distributed between the repayment of the principal indebtedness to international bonds denominated in euros, In addition to interest, in addition to repaying part of the IMF loan, in addition to repaying some external debts.
