The dollar continues to decline and loses 204 piasters in a year, to record 15.83 pounds

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The price of the dollar continued to decline against the Egyptian pound, losing about 204 piasters since the beginning of last year, to record the exchange rate of the dollar against the pound 15.83 for purchase at the present time, compared to 17.87 pounds for the dollar, at the beginning of last year in January 2019, which is the average exchange rate announced by the bank The Egyptian Central.

And the “seventh day” monitors the decline in the dollar exchange rate against the pound in a year:

January 2019 The price of the dollar hit 17.87 pounds.

February 2019, the price of the dollar hit 17.50 pounds.

March 2019 The price of the dollar hit 17.25 pounds.

April 2019 The price of the dollar hit 17.11 pounds.

May 2019 The price of the dollar hit 16.97 pounds.

June 2019, the price of the dollar hit 16.64 pounds.

July 2019, the price of the dollar hit 16.55 pounds.

August 2019, the price of the dollar hit 16.50 pounds.

September 2019 The price of the dollar hit 16.24 pounds.

October 2019 The price of the dollar hit 16.15 pounds.

November 2019, the price of the dollar hit 16.05 pounds.

December 2019 The price of the dollar hit 15.99 pounds.

January 2020, the price of the dollar hit 15.83 pounds.

The journey of the dollar’s ​​rise and fall again against the pound depends on the price of the dollar in Egyptian banks according to the mechanism of supply and demand.

When the dollar supply increased and demand decreased, the dollar fell.

The appreciation of the pound is due to the increase in dollar flows and capital in hard currency.

The indicators and progress of the Egyptian economy have improved significantly over the past period, supporting the strength of the pound.

Foreign exchange flows, especially portfolio funds, which are estimated between 200 to 300 million dollars per day, and rise to 500 million dollars on some days..

The total remittances of Egyptians working abroad increased to nearly 26 billion dollars in a year.



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