Minister The price of the US dollarIn front of the Egyptian pound, during Wednesday’s transactions, with a value of two piasters in the Egyptian banks of Al-Ahly, Egypt, Cairo, and the Commercial International Bank – Egypt, and a value that ranged between two piasters and two piasters in the Central Bank of Egypt.
The price of the US dollar, about 15.66 pounds for purchase, 15.76 pounds for sale, in the Egyptian banks of Al-Ahly, Egypt, and Cairo.
While the official price announced by the Central Bank of Egypt for the dollar was about 15.66 pounds for purchase, 15.79 pounds for sale, while the average selling price was about 15.67 pounds for purchase, 15.77 pounds.
The price of the dollar, in the Commercial International Bank – Egypt, was about 15.68 pounds for purchase, 15.78 pounds for sale.
The US currency – the dollar – lost between 1 and 4 piasters against its Egyptian counterpart – the Egyptian pound – during the second week of January 2021 transactions.
The price of the US dollar decreased against the Egyptian pound by a value of 4 piasters in the Egyptian National Bank, Egypt and Cairo, while it decreased by one penny in the Central Bank of Egypt, while it decreased by two piasters in the Commercial International Bank.
During the year 2020, the Egyptian pound was able to maintain its strength, which it regained over the past years, despite the crisis of the Coronavirus Covid 19 pandemic, which struck many currencies around the world, especially the currencies of emerging markets.
The proactive measures and decisions taken by the Central Bank of Egypt, in cooperation with the government, succeeded in preserving the stability of the Egyptian currency, due to several factors, which the Akhbar Al-Youm portal lists during the report.
Despite the global and local challenges resulting from the Corona pandemic crisis, the Egyptian pound recorded the strongest performance among emerging market currencies during 2020 against the US currency – the US dollar, according to reports of international and local institutions.
The International Monetary Fund praised the monetary policy implemented by the Central Bank of Egypt, which is characterized by an appropriate facilitative nature, pointing out that the exchange rate of the Egyptian pound has increased to a limited degree in the wake of the increase in capital inflows, stressing that the continued flexibility of the exchange rate helps to absorb external shocks. The Egyptian banking system is liquid, profitable and well capitalized.
The Egyptian pound rose against the US dollar during 2020 by 2.25%, while other emerging market currencies lost between 2% and 30% against the US currency.
The price of the US dollar decreased by a value that ranged between 29 and 32 piasters against the Egyptian pound during the year 2020, as a result of the increase in dollar flows from international funds through investment in Egyptian treasury bills and bonds, in addition to the decline in the volume of Egyptian imports.
The high rate of return on the local currency – the Egyptian pound – was among the factors that contributed to preserving the gains of the Egyptian pound, and worked to attract foreign investors to invest in the Egyptian currency, especially since the currency rate is determined according to the forces of supply and demand since the liberalization of the Egyptian pound exchange rate against the currencies. The foreign policy was fully edited in November 2016.