After liberalizing the exchange rate.. Will the prices of goods and food products rise?

Books – Amr Saleh:

Dr. Fakhri Al-Feki, Chairman of the Plan and Budget Committee in the House of Representatives, revealed the position of prices of imported goods and food products after the Central Bank’s decision this Wednesday morning to liberalize the exchange rate of the dollar currency.


Fakhri Al-Feki said during his statements to Masrawy that the prices of goods and food products will not witness any increases after the decision to liberalize the exchange rate because the goods offered in various markets were imported at the parallel market price and not the official exchange rate.

The Chairman of the House of Representatives Plan and Budget Committee continued, saying: Liberalizing the exchange rate will eliminate the parallel market for the currency, enhance the foreign exchange resources of Egyptian banks, unify the exchange rate, and eliminate the accumulation of demand for foreign exchange.

This morning, the Central Bank issued a decision to liberalize the exchange rate for foreign currency and raise the interest rate by 6% all at once.

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