The stability of the price of the dollar against the Egyptian pound today, October 29


settle down The price of the US dollarAgainst the Egyptian pound, at the beginning of today’s trading, Thursday, October 29, 2020, in banks operating in the local market.

The official price announced by the Central Bank, for a dollar, was about 15.64 pounds for purchase, 15.76 pounds for sale, while the average selling price was about 15.65 pounds for purchase, 15.75 pounds.

The price of the dollar, about 15.65 pounds for purchase, 15.75 pounds for sale, in the banks of the National Bank of Egypt, Egypt and Cairo.

The price of the dollar, in the Commercial International Bank – Egypt, was about 15.65 pounds for purchase, 15.75 pounds for sale.

The price of the US dollar was witnessing a state of stability against the Egyptian pound, during a period of more than two months, before it rose to a value of 11 piasters during the third week of trading in May.

The dollar index declined amid an improvement in sentiment, and despite some investor doubts about the timing of the US stimulus packages, the euro rose due to the weakening of the dollar and the arrival of some positive economic data in the region.

The pound also rose as the dollar weakened and as Brexit negotiations resumed after being stalled last week. Gold rose during the week as well, on the back of the dollar’s decline.

The MSCI EM Index of EM currencies rose 0.57% due to the weak dollar.

American stocks fluctuated between gains and losses, ending the week’s trading lower, as investor sentiments were affected with news about US financial stimulus packages in exchange for deteriorating conditions as a result of the increasing cases of the Corona virus. 1.06% and 0.95% respectively.

It should be noted that the performance of technology stocks was weaker than the performance of cyclical stocks throughout the week. Meanwhile, the VIX index for measuring market volatility expectations rose to 27.55 points, and settled below its 2020 average of 30.15.

Moreover, European stocks lost ground as a number of European countries tightened precautionary measures due to the increasing number of virus cases, as the Stoxx 600 index ended the week 1.36% lower, its biggest decline in a month.


Please enter your comment!
Please enter your name here