03:42 PM
Friday 25 March 2022
I wrote – Shaima Hefzy:
The past week witnessed significant fluctuations in the price of the dollar once morest the pound, following the Central Bank announced an exceptional decision regarding interest rates, and the subsequent jumps in gold prices in the local market, which we monitor in this report.
Last Monday, the Central Bank raised the interest rate by 1% in an exceptional meeting. Al-Ahly and Egypt banks also issued an 18% certificate to provide the highest return on savings certificates in the market, which is the highest interest for a certificate since the flotation.
gold price
The price of gold in Egypt jumped during last week’s trading, driven by the increase in the price of the dollar once morest the pound, especially on Monday and Tuesday, when the price of a gram of 21 karat gold recorded its highest value and exceeded 1070 pounds before it fell once more in the following days.
The price of gold during trading today, Friday, reached regarding 985 pounds per gram, compared to regarding 892 pounds per gram last Sunday, an increase of more than 95 pounds.
The price of gold in Egypt is affected by international gold prices and the price of the dollar, and the following infographic shows the development of the 21-carat gram during the week, according to Masrawy’s follow-up data, and it is also possible to follow successive updates to the price of gold. from here.
dollar price
The price of the dollar jumped during Monday’s trading, according to Al-Ahly Bank data, and it reached its peak during Tuesday’s trading, and then returned to decline in Wednesday and Thursday trading.
At the end of Thursday’s trading, the price of the dollar rose by regarding 2.64 pounds, compared to the selling price of the dollar on Sunday, at the National Bank.
