The price of the dollar and the reason behind its control over the global economy, which settled today, Friday, 25/3/2022 in all Egyptian banks against the Egyptian pound, due to the weekend on Friday and Saturday.
The price of the dollar and the reason behind its control in the world
In fact, the main reason behind the sudden decline of the Egyptian pound against foreign currencies is the rise in the accumulated pressures during the previous period, and among the most important of these pressures was the Corona pandemic and the spread of the Covid 19 virus, which had a significant and noticeable impact on the Egyptian current account and the economy in Egypt, followed by the Russian-Ukrainian war. Which made the situation more complicated and has also caused a rise in commodity prices, the most important of which is the increase in global oil pricesAnd, below, we will show you the foreign exchange rates against the Egyptian pound in Egyptian banks:
- The price of the US dollar today: The price of the dollar has stabilized against the Egyptian pound today, at a price of 18.28 pounds for purchase and 18.38 pounds for sale.
- The price of the European euro today: The exchange rate of the European euro was fixed against the price of the Egyptian pound at 20.04 for buying and at 20.24 for selling.
- As for the price of the pound sterling today: The exchange rate of the pound sterling against the Egyptian pound reached 24.05 pounds for purchase and 24.28 pounds for sale, and this is according to the latest updates of the National Bank of Egypt.
- The price of the Saudi riyal today: The price of the Saudi riyal against the Egyptian pound has stabilized at 4.88 pounds for purchase, and at 4.89 pounds for sale.
- Finally, the price of the Kuwaiti dinar today: The price of the Kuwaiti dinar against the Egyptian pound has also been fixed at 57.82 pounds for purchase, and at 60.45 pounds for sale, and all these prices According to the latest updates of the National Bank of Egypt.
The price of the ruble against the dollar after Putin’s statement
On Wednesday, March 24, 2022, Russian President Putin announced the adoption of the Russian currency “ruble” in payment and financial transactions in exchange for Russian gas, for what he described as unfriendly countries, and this led to an increase in the ruble exchange rate to the dollar equivalent to 96.75 Russian rubles after it reached levels Record drop since it started Russian attack on Ukraine.
Why the dollar controls the world economy?
The reason for this is a trick that America carried out in the twentieth century and managed to control the global economy to this day, since at the end of World War II, specifically in 1944 AD, the entire global economy was suffering, so the United States of America pledged to secure its own currency, the dollar with a reserve of Gold, meaning that every dollar in the world is covered by a certain amount of gold in the state’s coffers, and it set the price of the gold ingot at the time at the equivalent of 35 dollars, so the dollar was the only currency tied to gold, meaning that it is the only currency that carries a real value, not just a paper, so All countries began collecting the largest possible amount of US dollars, and this system was called the Bretton woods system, and with this, America was able to control the global economy and spread the US dollar all over the world, and the dollar turns into a global currency on which all systems and institutions depend.
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