For the sixth consecutive day .. the dollar rises in 6 banks

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Published in :
Monday 2 March 2020 – 2:25 PM
| Last updated :
Monday 2 March 2020 – 2:25 PM

The exchange rate of the dollar rose, against the pound, for the sixth consecutive day in 6 banks during Monday’s trading, as the green currency, two piasters in the Housing and Development Bank, went up to 15.60 pounds for purchase, and 15.70 pounds for sale.

The dollar rose by about one penny in the National Bank of Egypt and the Suez Canal to 15.58 pounds for purchase, and 15.68 pounds for sale.

It also increased in the Arab African and International Commercial Bank one penny to register 15.59 pounds for purchase, and 15.69 pounds for sale.

And increased by about a penny in Abu Dhabi Islamic Bank to 15.60 pounds, and 15.70 pounds for sale.

With the exchange rate at Credit Agricole Egypt and Al Baraka Bank stable at 15.59 pounds for purchase, 15.69 pounds for sale, and at Bank of Alexandria at 15.58 pounds for purchase, and 15.68 pounds for sale.

A report issued by the research department of HC Securities and Investment last week expected an average inflation rate of 7.7% in 2020, giving the central bank the possibility of a new rate cut that could reach two percentage points, with the stability of the pound price.

The report pointed out that the improvement in the revenues of the tourism sector, while continuing to improve the remittances of Egyptians working abroad, two factors that contributed to strengthening Egypt’s external position and supporting the pound.

The exchange rates of the dollar against the pound have witnessed a gradual decrease of more than 11.2% since January 2019, in excess of the pound, to reach 15.59 pounds for purchase and 15.69 pounds for sale against 17.79 pounds for purchase and 17.89 pounds for sale beginning of 2019.







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