2023-06-14 20:47:19
The price of the dollar on the black market declined during the transactions of the current week between 4 and 6 pounds, as the exchange rate of the dollar ranged between 34 and 36 pounds, following the price of the dollar on the black market rose to more than 40 pounds during the previous week, following The decision of the Central Bank to end the black market in Egypt And following the government’s decision to allow gold imports to enter with those coming from abroad without any customs, except for the value-added tax.
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The price of the dollar on the black market rose once morest the Egyptian pound, between 40 and 40.5 pounds once morest one dollar, at the end of last week’s transactions, according to the statements of two sources working in exchange companies and observers of the price of the dollar on the black market. The black market rise, but what happened confused all expectations, as the price of the dollar on the black market decreased significantly, which confused the movement of the black market for the dollar and made the currency dealers incur huge losses, which forced them to stop working in the black market, and this is all thanks to A new initiative rocks the black market for dollars.
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A source in the black market for the dollar stated that the decline in the price of the US dollar once more is due to what happened from the Central Bank of Egypt during the recent period and its desperate attempts to get rid of the black market in Egypt, as well as the new investors’ initiative that helped get rid of the black market dollar and its disappearance.
And the average price of the dollar in banks recorded between 30.84 pounds for purchase, and the selling price recorded 30.94 pounds during yesterday’s transactions, according to official statements announced by the Central Bank of Egypt.
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Another source working in an exchange company announced that the rise in the price of the dollar on the black market and its sharp decline once more were caused by joint efforts between the Central Bank of Egypt, the government and investors, which indicates that the government and the people are seeking one goal, which is to save the Egyptian economy and confront those who want to undermine it. Also, the price of the dollar on the black market moves in a random manner, which helped to quickly adjust and control prices.
It should be noted here that the money changers and banks operating in the local exchange market are still suffering from a foreign exchange shortage crisis since the first quarter of the previous year 2022, following the Russian-Ukrainian war erupted and the indirect foreign investments exited regarding $22 billion from the country and were funded by banks and the Central Bank of Egypt.
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Therefore, a foreign exchange crisis and other consequences have been generated, including the return of waiting lists for requests to obtain import financing in banks, and the slow exit of goods from the ports once more due to the continued shortage of foreign exchange in the official and unofficial local market, but the government has already begun to limit this crisis by Difficult decisions taken by the government to face the dollar crisis in Egypt.
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