A surprise in the price of the dollar on the black market and in Egyptian banks today.. The dollar exceeded the value of the black market and banks!!

The price of the dollar on the black market occupies a major place among the local topics that followers are searching for, especially after the Central Bank of Egypt announced a recent decision allowing the exchange rate of the pound to be determined according to market mechanisms. Official banks witnessed a noticeable rise in the price of the dollar against the pound, as it reached 49 pounds. This sparked the interest and inquiries of followers about the impact of this rise on the general economic conditions.

The price of the dollar on the black market

The price of the dollar on the black market in Egypt has reached 41 pounds, and for the first time the price of the dollar in banks is higher than the black market, as the dollar in banks reached 49 pounds this morning, Wednesday, March 6.

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The price of the dollar in banks

• The exchange rate of the dollar against the pound recorded a value exceeding 49 pounds at Faisal Islamic Bank.

• While it reached 48.9 pounds at the United Bank.

• At the National Bank of Egypt, one of the largest government banks, the price of the dollar jumped to 46.45 pounds for purchase and 46.55 pounds for sale.

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  A dramatic increase in the price of the US dollar against the Egyptian pound on the black market in Egypt

  
  
  

• At Banque Misr, the price of the dollar recorded 46.25 pounds for purchase and 46.35 pounds for sale.

• As for the Bank of Alexandria, the purchase price of the dollar reached 47.10 pounds, while the selling price reached 47.20 pounds.

• At Commercial International Bank (CIB), the price of the dollar rose to 47.50 pounds for purchase and 47.60 pounds for sale.

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  A significant rise today.. The price of the dollar against the Egyptian pound on the black market reaches new and imaginary numbers

  
  
  

• At the Abu Dhabi Islamic Bank level, the price of the dollar rose to 47.80 pounds for purchase and 47.90 pounds for sale.

• In exchange companies, the dollar exchange rate reached 46.5 pounds for purchase and 46.6 pounds for sale.

The reason for the rise in the dollar in banks

This morning, Wednesday, the Central Bank of Egypt raised interest rates by 600 basis points, equivalent to 6%, to reach levels of 27.25%. According to the statement issued, the Monetary Policy Committee explained that this decision comes with the aim of restricting monetary conditions in proportion to the targeted path to reduce inflation rates. .

The Central Bank affirmed its commitment to maintaining price stability in the medium term, and in this context, the statement stressed that the Central Bank is committed to continuing its efforts to shift towards a flexible framework for targeting inflation, by continuing to target inflation as a basic basis for monetary policy, and allowing the exchange rate to be determined according to market mechanisms.

The statement added the importance of unifying the exchange rate, noting that this contributes to eliminating the accumulation of demand for foreign exchange after closing the gap between the official market exchange rate and the parallel market.

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Dollars to Egyptian pounds on the black market?

41 pounds.

How much is 100 Egyptian dollars on the black market?

3000 pounds.

What is black market currency exchange?

Black market exchange rates are different from the official rate set by the government.

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