The pound fell more than 2% against the US dollar, during Thursday’s trading, despite the Central Bank of England’s decision to raise interest rates at the largest pace in 33 years, which indicates the economic troubles facing Britain and the lack of confidence in the markets regarding economic measures I took and taken by London.
The pound decreased to one dollar.
11, down more than 2% on Thursday afternoon despite interest rate increases, to register its lowest level in several days, despite the fact that he had been welding all last week and at the start of this week at the level of $1. 14.
The exchange rate for the pound in Egyptian banks
A total of 26.97 pounds and 27.75 pounds had arrived at the Bank of Alexandria.
He entered 27. 04 pounds for purchase and 27. 69 pounds for sale in the Banque Misr.
And arrived at the National Bank of Egypt: 26.
27.69 pounds for sale and 96 pounds for purchase.
Moreover, in the Commercial Bank: 27. 16 pounds were available for buy, while 27. 73 were offered for sale.
The decline of the pound against the dollar
Since the American Federal decision yesterday, the dollar’s strength has increased relative to the other currencies, and this is the seventh consecutive time the Central Bank of England has raised interest rates—it was only at zero less than a year ago.
A pioneering labour union, the 1%, and In light of further evidence of the effects of the crisis in living costs, the high interest rates will engulf more workers in debt and financial misery.
According to a study of 6,000 adults, about half of them claimed they would find it difficult or impossible to pay their families’ expenditures this year, according to a story in the British daily “The Independent,” and the Bank of England increased the interest rate in the United Kingdom by 0.
The proportion increased by 75%, from 2. 25% to 3. 00%, the highest level since 1989, which was in line with predictions made by experts.
The decision by the Central Bank of England, which was made just one day after the American interest rate increased, suggests that the bank is following the Federal Reserve, the US Central Bank, in its preference for recession. The Federal Reserve increased yesterday, on Wednesday, by a rise of 0.
75% is for the interest, plus the hardship the British pound is going through due to the strength of the rising dollar.
At the conclusion of banking transactions on Thursday, 3-11-2022, the value of the British pound
About Author
