The dollar rises once more, reaching LE63 in Egypt’s parallel market ...Egypt

EGYPT INDEPENDENT - Economy

The dollar price in the parallel market rose again during Wednesday’s trading to record LE63, according to the “Investing” platform, compared to LE60 recorded on Tuesday’s trading after a record decline in the past few days. Experts believe that there are several reasons that led the dollar to these losses in the parallel market – which may also push for further declines in the coming days. The first of these is the collapse of demand from importers due to the unprecedented increases in exchange rates of the dollar. In addition, the Central Bank of Egypt raised interest rates by 200 bps to curb inflation, while the authorities have expanded its crackdown on major currency traders of the bla

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Last updated : 08 February 2024 clock 12:01 PM

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The dollar rises once more, reaching LE63 in Egypt’s parallel market ...Egypt

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