2023-12-01 09:23:00
11:23 AM Friday, December 1, 2023
Written by Manal Al-Masry:
The black market for currency trading (the unofficial market for speculation on foreign currencies) received huge losses during this week’s trading following the price of the dollar fell once morest the pound for the first time in a month following the demand for buying it declined, according to what observers Masrawy spoke to said.
The price of the dollar on the black market fell by regarding 5 pounds, falling to the level of 46 pounds at the end of yesterday’s trading, Thursday, compared to regarding 51 pounds during the trading of the previous Thursday, which some attributed to a decline in the rush to buy the currency from some groups.
Banks are facing severe pressure from a shortage of foreign exchange following the exit of indirect investments worth $22 billion in the middle of last year due to the negative consequences of the Russian-Ukrainian war.
During the month of November, the price of the dollar recorded successive jumps in black market transactions, reaching the level of 52 pounds due to a sudden increase in demand for purchasing it in exchange for a shortage in supply in banks and money exchanges, before it fell to 46 pounds by the end of yesterday, according to observers.
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