A large number of citizens inside and outside Egypt are keen to follow the daily changes in the price of the dollar, because of its direct impact on the decisions to transfer money and commercial transactions, especially with the increasing fluctuations of the exchange market.
Egyptian banks record similar rates:
National Bank of Egypt: Buying EGP 50.21, Selling EGP 50.31
Banque Misr: Buying EGP 50.21, Selling EGP 50.31
Banque du Caire: Buying EGP 50.21, Selling EGP 50.31
Alexandria Bank: Buying EGP 50.21, Selling EGP 50.31
International
Commercial Bank CIB: Buying EGP 50.21, Selling EGP 50.31
Increased demand and global pressure:
This
rise comes in light of the continued global pressure on local currencies as a
result of escalating geopolitical tensions, especially in the Middle East, as
well as changes in energy and gold prices, and the rise in the dollar index
globally with investors ’orientation to safe assets.
Economists suggest that the price of the dollar remains at high levels during the coming period, in light of the expectations of increasing demand by individuals and institutions with the continued international challenges, and the intensification of political and military tensions that enhance the power of the American currency at the expense of other currencies.