The price of the dollar stabilized today, Sunday, March 3, 2024, according to the currency rates announced on the official website of the Central Bank of Egypt and the screens of bank branches in Egypt.
The price of the dollar today was as follows:
Dollar price at the Central Bank of Egypt:
30.83 pounds to purchase
30.96 pounds for sale
The price of the dollar in the National Bank of Egypt:
30.75 pounds to purchase
30.85 pounds for sale
Dollar price in Banque Misr:
30.75 pounds to purchase
30.85 pounds for sale
The price of the dollar in the International Commercial Bank:
30.85 pounds to purchase
30.95 pounds for sale
The price of the dollar on the black market in Egypt is still falling strongly, incurring more losses, and approaching its lowest levels in 5 months at 43 pounds.
This comes after the dollar proceeds that entered the Central Bank of Egypt at a value of 10 billion dollars, in addition to the waiver of 5 billion from an Emirati deposit worth 5 billion dollars, which is the value of the first installment of the Ras al-Hikma deal.
Goldman Sachs expected that the value of the Egyptian pound would be devalued before the IMF agreement, while the Fund will monitor ongoing compliance with this requirement using 3 metrics: The lack of a premium in the parallel market, the lack of a backlog of foreign currency orders, and the volume of interbank market activity, according to Al Arabiya.
While the IMF did not specify a specific level for devaluing the pound, Goldman Sachs expected it to fall to the level of 45 to 50 pounds, in line with current prices in the parallel market, with risks of exceeding these levels significantly due to the liquidity of foreign currencies available at the central bank.
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