While the exchange market in Egypt was witnessing a state of stability during the past days, however, The dollar began to move once morest the Egyptian pound To return once more to levels close to 18.60 pounds.
It was the highest level recorded by the US dollar once morest the Egyptian pound since the decisions of March 21, at the level of 18.51 pounds.
The Central Bank of Egypt held an extraordinary meeting on March 21, during which it announced the devaluation of the Egyptian pound once morest the US dollar from the level of 15.64 pounds to the level of 18.28 pounds.
In the exchange market, the dollar exchange rate once morest the Egyptian pound recorded the highest level of 18.58 pounds for purchase, and 18.63 pounds for sale at the banks of the Abu Dhabi Islamic Bank, the Egyptian Gulf Bank, and Al-Ahly Kuwaiti.
In 5 banks led by the Commercial International Bank and Al Ahli United, the US note recorded a level of 18.57 pounds for purchase, and 18.63 pounds for sale, while the dollar exchange rate recorded a level of 18.56 pounds for purchase, and 18.63 pounds for sale, in 3 banks led by Alexandria and Cairo.
In 5 banks led by the National Bank of Egypt and Banque Misr, the dollar exchange rate reached 18.55 pounds for purchase, and 18.61 pounds for sale.
The lowest exchange rate for the dollar was in 3 banks, led by the Mashreq and National Kuwait, at 18.52 pounds for purchase, and 18.62 pounds for sale.
The price of the green American paper at the Central Bank of Egypt reached 18.53 pounds for purchase, and 18.65 pounds for sale.
And the Egyptian “Central” decided last Thursday, to raise the main interest rates by 200 basis points, as the Monetary Policy Committee decided to raise the interest rate on overnight lending to 12.25% from 10.25%, and it also increased the overnight deposit rate to 11.25% from 9.25% .
