dollar.. The price of the dollar recorded today in Egypt during the beginning of trading on Wednesday, April 12, 2023, some changes within Egyptian banks and the black market, as well as Egyptian exchange companies, and we show you in the following lines the price of the dollar in Egyptian banks, moment by moment, for everyone interested in buying and selling the US dollar and trading in hard currency from speculators and investors in green currency.
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The price of the dollar in Egyptian banks today, Wednesday 12-4-2023
Factors affecting the price of the dollar in Egypt
The increase or decrease in the price of the dollar depends on several different factors, such as: supply and demand, the market’s need for hard currency to import from abroad, the impact of the Egyptian Stock Exchange, and many other influencing factors, such as the following: inflation: The current inflation rate of the Egyptian pound affects the rise in prices, whether for external or internal reasons, which is reflected in the rise in the value of foreign currencies and of course the rise in dollar prices. Future expectations: The future expectations of investors and consumers are among the factors that affect the exchange rate of the dollar in Egypt, which leads to an increase in commodity prices in the country.Supply and demand: The rise or fall in the price of the dollar is expected according to the mechanism of supply and demand without the intervention of the central bank, and it is difficult to predict the exact exchange rate of the dollar once morest the pound in the short term.
inflation in Egypt
Inflation rates rose strongly in Egyptian cities to their highest levels since July 2017, affected by the rise in food prices linked to the depreciation of the currency, as consumer prices rose on an annual basis by 32.7% last March, which is lower than economists’ expectations and up 0.8% from 31.9%. % in the month of February.
The Central Agency for Public Mobilization and Statistics said in its consumer prices report yesterday, Monday, April 10, that the price hike was due to the food and beverage group jumping by 62.9%, while prices grew on a monthly basis by 2.7%, compared to 6.5% last February.
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