Today, Tuesday, October 18, 2022, the dollar’s exchange rates to the Egyptian pound began to stabilise amid concerns that the pound’s value would fall as the IMF loan’s repayment date drew nearer, if the IMF’s demands centre on a flexible exchange policy.
The Central Bank observed an average dollar exchange rate of about 19. 63 pounds for purchase and 19.
70 pounds were being sold, while the official dollar exchange rate at the Central Bank was roughly 19. For purchases, 62 pounds, and 19, For sale is 21 pounds.
The largest Al-Ahly government bank in Egypt stabilised the dollar exchange rate at 19. 19 pounds were spent on purchases. For sale is 69 pounds.
I’ve come to the following conclusions on the current value of the dollar in the other Egyptian banks:
Dollars currently cost 19 in the Bank of Alexandria. 66 pounds for purchase, and 19.
For sale: 71 pounds.
At Cairo Bank, the dollar now costs 19. For purchases, 65 pounds, and 19. For sale: 71 pounds.
In the Commercial International Bank, the dollar now costs 19. For purchases, 65 pounds, and 19. For sale: 71 pounds.
The dollar now costs 19 in the Arab African Bank. 19 pounds were spent on purchases. For sale: 71 pounds.
At the Suez Canal Bank, the dollar now costs 19. 19 pounds were spent on purchases. For sale: 71 pounds.
At Credit Agricole Bank, the dollar now costs 19. 64 pounds were paid for the item. For sale: 71 pounds.
In the Abu Dhabi Islamic Bank, the dollar is valued at 19. For purchases, 68 pounds, and 19. For sale: 71 pounds.
The price of the dollar today in Al -Baraka Bank: 19. 19 pounds were spent on purchases. For sale: 71 pounds.
It is expected that the value of the pound will witness declines during the coming period, with the approaching the completion of the International Monetary Fund agreement, amid demands that a political exchange rate must be followed to protect the economy from external shocks.
Dr.
The International Monetary Fund and the World Bank’s annual meetings were held in Washington, and Mohamed Moait, the minister of finance, confirmed that an agreement had been reached at the level of experts on the components of the new programme. He added that this agreement would soon be announced and that very fruitful bilateral discussions had taken place with IMF experts during these meetings.
The minister added that we are continuing our efforts to control the state’s public financial conditions; To preserve economic gains, through the sustainability of reducing public debt rates of the local product in the medium term, especially since we were successful during the previous fiscal year in recording positive indicators despite the inflationary p
3% of GDP, 6. 6 % growth rate, and an increase in tax revenue by about 19 % on an annual basis, and the budget deficit of 13 % in the fiscal year 2013-2013 to 6, 1 % in the past fiscal year and we target 6 % during the current fiscal year and 4 % by the fiscal year 2026/2027, and the debt rate is from 103 % in June 2016, to 87. In June 2022, 2%.
Tuesday, October 18, 2022: Dollar exchange rates
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