The dollar soars against the Egyptian pound as expectations of interest rate cuts fade

A state of rise was witnessed today by the dollar today in global markets, following huge expectations of a decline in the interest rate that will be announced by the US Federal Bank following huge inflation in the United States of America.

The dollar rose today with the expectation of a cut in interest rates

The dollar soared with the decline of all previous expectations of a decline in interest rates, today, Thursday, after all US inflation data appeared higher than all expectations, which of course affected the expectation that the Reserve Board would begin its role in reducing interest rates during the month of June, while currencies declined. The yen’s tendency to levels not seen before since the mid-1990s.

The euro also recorded about $1.07465 during recent trading, after it fell 1% yesterday, and the European Central Bank is expected to keep its rates unchanged, but it is expected to reduce the interest rate soon, most likely in June.

The price of the US dollar also declined against the Russian ruble at the start of trading on the Moscow Stock Exchange by about 6.25 kopecks, compared to the previous close, to record about 93.21 rubles. In contrast, the euro exchange rate rose by about 20.75 kopecks, until it reaches 100.21 rubles, and the Chinese yuan exchange rate also rose. 0.50 kopecks, which is approximately 12.86 rubles.

As for the British pound, it reached $1.2548, thus rising by 0.07 percent during the day. The Australian dollar also rose by about 0.14%, reaching about $0.6522, and the New Zealand dollar rose by about 0.17% to reach $0.59835.

With the yen falling to its lowest level of 34 years against the dollar last Wednesday, reaching 153.24 yen, which brought back all fears of government intervention, and the authorities confirmed that they would not hesitate to take measures in order to deal with fluctuations in the value of the currency, after many Geopolitical concerns in the Middle East region.

Read also: Today’s gold prices in Egypt: are there an increase or a setback?!!

Dollar prices in banks today

• The National Bank of Egypt also fixed the price of the dollar at 47.53 pounds for purchase, and about 47.63 pounds for sale, while in the Commercial International Bank (CIB), it reached 47.5 pounds for purchase, as well as 47.6 pounds for sale.
• The Bank of Alexandria reached 47.53 pounds for purchase, as well as 47.63 pounds for sale, and the average exchange rate at the Central Bank recorded 47.52 pounds for purchase, 47.65 pounds for sale.
• While the price of the dollar inside the Bank of Egypt is 47.53 pounds for purchase and 47.63 for sale, and its price at the Bank of Alexandria is 47.53.
• One pound to buy, and 47.63 to sell, while the price of the dollar inside the Commercial International Bank is about 47.5 pounds to buy, and 47.6 pounds to sell, in addition to the fact that in Abu Dhabi Islamic Bank, it is 47.70 pounds to buy, and 47.80 pounds to sell.

Read also: A fiery rise in gold prices today.. See how much is 21 karat?

How much does the dollar factor in Egypt today?

١ USD يساوي٤٧٫٥٥٤٢ EGP

100 dollars, how many Egyptian pounds today on the black market?

10 USD equals about 475.54900 EGP

How much does the price of the Saudi dollar factor?

The US dollar against the riyal is equal to about 3.7510 + 0.0001.

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