While the Egyptian market awaits the decision of the Central Bank of Egypt regarding interest rates, the exchange rate of the dollar once morest the Egyptian pound moved, but at slight rates on Thursday morning.
Yesterday, the US Federal Reserve’s Open Market Committee decided to raise interest rates by 75 basis points for the third time in a row, to reach between 3% and 3.25%. This comes within the strict policy approach adopted by the US Central Bank to confront the inflation rates that were not curbed by the high interest rates approved by the Fed in its recent meetings.
It is scheduled to The Monetary Policy Committee of the Central Bank of Egypt meets End of the day, to determine the fate of interest. But expectations point to a strong trend of a new rate hike.
The Central Bank of Egypt decided to fix interest rates at its last meeting on August 18 for the second time in a row, following its decision to fix the interest rate during June at levels of 11.25% and 12.25%.
In the exchange market, the exchange rate of the dollar once morest the pound rose at the Central Bank of Egypt, reaching the level of 19.44 pounds for purchase, and 19.51 pounds for sale.
In Al-Ahly Bank and Egypt, the American note recorded a level of 19.39 pounds for purchase, and 19.45 pounds for sale.
In private banks, the US dollar recorded a level of 19.46 pounds for purchase, and 19.52 pounds for sale, at the Commercial International Bank – Egypt.
While the euro exchange rate fell today once morest the Egyptian pound at the Central Bank to the level of 19.25 pounds for purchase, and 19.33 pounds for sale. The European currency recorded a level of 19.24 pounds for purchase, and 19.40 pounds for sale, at the National Bank of Egypt and Banque Misr.
The price of the pound sterling once morest the Egyptian pound at the Central Bank decreased to 22.04 pounds for purchase, and 22.13 pounds for sale. While the National Bank of Egypt and Banque Misr recorded a level of 22 pounds for purchase, and 22.14 pounds for sale.
In the Arab world, the price of the Saudi riyal rose once morest the Egyptian pound, to record 5.16 pounds for sale, and 5.15 pounds for purchase at the Central Bank. While the National Bank and Banque Misr recorded a level of 5.15 pounds for purchase, and 5.17 pounds for sale, and the same price was repeated at Banque Misr.
The exchange rate of the UAE dirham recorded a level of 5.29 pounds for purchase, and 5.31 pounds for sale, at the Central Bank of Egypt. While the Kuwaiti dinar exchange rate reached 62.85 pounds for purchase, and 63.12 pounds for sale.
