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US dollar price stabilizes in Egypt ahead of Eid al-Fitr

The US dollar price in Egypt stabilized at the beginning of trading on Wednesday the price of the dollar rebounded globally, supported by the rise in bond yields and expectations of a rise in the US interest rate during the month of May according to Reuters.

The price of the dollar today in Egypt:

 

Banque Misr

LE30.75 for purchase

LE30.85 for sale

 

National Bank of Egypt

LE30.75 for purchase

LE30.85 for sale

 

Central Bank of Egypt

LE30.83 for purchase

LE30.96 for sale

 

Commercial International Bank

LE30.85 for purchase

LE30.95 for sale

 

Suez Canal Bank

LE30.85 for purchase

LE30.95 for sale

 

Housing and Development Bank

LE30.85 for purchase

LE30.95 for sale

 

Arab African International Bank

LE30.85 for purchase

LE 30.95 for sale

LE30.85 for purchase

LE30.95 for sale

 

US dollar price forecast in Egypt

The US Federal Reserve is facing a problem, one of the most important factors of which is the interest rate hike series during 2022, Banking expert, Ahmed Shawky, said.

“If the US Federal Reserve does not fix the interest rate, it will raise by a maximum of 25 basis points, which will attract more investments to the dollar,” he added.

In televised statements, Shawky explained that this step would negatively affect the performance of other currencies worldwide, especially emerging markets.

Shawky continued, in televised statements, that this step would negatively affect the performance of other currencies worldwide, especially in emerging markets.

He anticipated a rise in the price of the dollar in Egypt in the coming period by no less than ten percent.

Many international institutions also expect a rise in the price of the dollar against the pound soon, which is evident from the rise in future prices which exceeded LE40, he said.

Edited translation from Al-Masry Al-Youm

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