In light of the dollar’s record surge against the Egyptian pound in recent days, Mohamed Al-Ibarya, President of Banque Misr and President of the Egyptian Banks Union, revealed his hopes for the country’s exchange rate for the greenback on Sunday.
Muhammad Al-Itrabi noted that “the market is moving owing to supply and demand” in a phone conversation with the “Story” show.
Al-Itrabi noted that “the dollar decreased after its rise after the exchange rate liberalisation in 2016,” and continued, “In the float in 2016, the dollar exceeded its right price, and returned to decline again… the dollar reached 20 pounds, and reached 18 pounds, and then he went down 15. 70 EGP, and fixed at this number for 5 years.
In response to some people’s anticipation that the dollar would hit 25 pounds on Sunday, the president of the Egyptian Banks Union said: “In my opinion, the price of the dollar will not be” Over Shoting “(exceeding) this time.
He went on to say that “Egypt is not insulated from the events taking on in the world,” and that “the dollar is intended to move gradually according to the deficit in it.”
“Al-Masry Al-Youm,” says the Master.
The head of the Egyptian Banks Union discusses his forecasts for the dollar’s value tomorrow and on Sunday.
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