while The dollar rose at the beginning of this week’s trading To a level slightly less than its highest level in 20 years once morest the major currencies, but it recorded new declines once morest the pound in trading, today, Monday, for local reasons.
According to the statistics prepared by Al-Arabiya.net, the highest dollar exchange rate in Egyptian banks was recorded in the Egyptian Gulf Bank, Ahli United Bank and Abu Dhabi Islamic Bank, at a level of 18.28 pounds for purchase, and 18.34 pounds for sale.
In 4 banks led by Banque du Caire and the Commercial International Bank, the dollar exchange rate recorded a level of 18.27 pounds for purchase, and 18.34 pounds for sale. In 7 banks led by the National Bank of Egypt and Banque Misr, the US currency exchange rate recorded a level of 18.26 pounds for purchase, and 18.34 pounds for sale.
While the dollar exchange rate at the Central Bank of Egypt fell to the level of 18.24 pounds for purchase, and 18.36 pounds for sale.
The average price of the European euro also decreased, according to the Central Bank of Egypt website, to regarding 19 pounds for purchase, and 19.09 pounds for sale. The price of the euro fell in the National Bank of Egypt and Banque Misr, to the level of 18.90 pounds for purchase, and 19.08 pounds for sale.
While the average price of the pound sterling in the banking market, according to the Central Bank of Egypt, rose to regarding 22.37 pounds for purchase, and 22.49 pounds for sale.
In the Arab world, the average exchange rate of the Saudi riyal decreased, according to the Central Bank of Egypt website, to regarding 4.86 pounds for purchase, and 4.88 pounds for sale. The average price of the Emirati dirham at the Central Bank of Egypt also fell to regarding 4.96 pounds for purchase, and 4.99 pounds for sale. Also, the Kuwaiti dinar exchange rate fell to regarding 59.36 pounds for purchase, and 59.80 pounds for sale.
Globally, the dollar rose at the beginning of the week to a level just below its highest level in 20 years once morest other major currencies on Monday.
This comes as investors seek a safe haven due to concerns regarding global growth while cryptocurrency markets appear to have found some stability following last week’s turmoil.
The dollar index hit 104.54 following briefly surpassing 105 on Friday, its highest level since December 2002, following six consecutive weeks of gains.
Investors turned to the safe-haven currency due to concerns regarding the ability of the US Federal Reserve to curb inflation without causing a recession, as well as concerns regarding slowing growth caused by the Ukrainian crisis and the economic consequences of China’s policy on the non-proliferation of the Corona virus.
