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The price of the dollar in Egypt reaches this level.. and calm prevails in the exchange market

The price of the dollar touched the level of 18.80 pounds in Egyptian banks, today, Sunday, while its prices vary between banks, with a state of calm in the exchange market after the recent central bank decision to fix interest rates.

The average price of the dollar, according to central bank data, recorded 18.71 pounds for purchase and 18.788 pounds for sale, while the dollar recorded a price of 18.71 pounds for purchase and 18.77 pounds for sale in Al-Ahly and Egypt banks, the two largest government banks.

In Abu Dhabi Islamic Egypt, the Egyptian Gulf Bank and Med Bank, the dollar recorded 18.74 pounds for purchase and 18.79 pounds for sale, and the price of 18.73 pounds for purchase and 18.79 pounds for sale in the Commercial International Bank and the Housing and Development Bank.

At the level of the rest of the currencies, the price of the euro reached 19.67 pounds for purchase and 19.84 pounds for sale in Al-Ahly and Egypt banks, and the Saudi riyal recorded 4.98 pounds for purchase and 5 pounds for sale.

Also, the price of the Emirati dirham reached 5.09 pounds for purchase and 5.11 pounds for sale, while the Bahraini dinar recorded a price of 48.35 pounds for purchase, and 49.79 pounds for sale.

The Central Bank of Egypt had kept key interest rates unchanged at the Monetary Policy Committee’s meeting.

The committee kept the overnight lending rate at 12.25%, and the overnight deposit rate at 11.25%.

It is noteworthy that the committee raised interest rates in the past two meetings, after keeping them unchanged for nearly 18 months, as it raised them by 100 basis points in a surprise meeting on March 21. On the same day, the exchange rate of the pound fell against the dollar by 14%, and then increased it by 200 basis points in May 19 meeting.

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