Two heads of exchange companies talked regarding the situation of the US currency in the market, pointing to the rise in the price of the dollar on the black market during the past fifteen days, compared to the official rate in banks and money changers.
The economist said that the rise in the price of the dollar on the black market caused a decrease in the volume of the supply of currency with exchange companies, explaining that the increase in the dollar selling price gap between the official market represented by banks and money changers, and the parallel market led to a decrease in the volume of currency supply, and people’s reluctance to use it. sale.
The owner of one of the exchange companies indicated, in press statements, that the rise in the price of the dollar in the parallel market is due to the illegal exploitation of the currency by some merchants and citizens, especially following expectations of a rise in the price of the dollar, which was greatly reflected in the volume of trading in exchange companies.
Several international banks, including Credit Suisse and Societe Generale, expected an increase in the price of the dollar once morest the pound in the short term, to between 34 and 35 pounds, due to the pressure of the currency shortage.
The owner of one of the exchange companies explained in his speech that the company’s branches are working as much as possible to meet the demands of customers to buy currency for the purpose of travel or treatment so that those in need are not affected.
Reports stated that the volume of foreign currency flows to exchange companies began to increase since last month, with the narrowing of the currency exchange rate gap between banks, money changers, and the black market, but the crisis returned once more following the widening gap between the two rates in the official and black market.
The price of the dollar once morest the Egyptian pound in various banks recorded a remarkable increase, as the dollar rose compared to March 2022 to this March, by regarding 96%, from 15.76 pounds on March 20, 2022 to 30.94 pounds in bank transactions.
Also read:
The price of the dollar today in all banks.
