When do the prices of electrical appliances decrease after changing the exchange rate?

Islam Saeed wrote

Thursday, March 7, 2024 02:12 PM

Wafi Abu Samra, member of the Board of Directors, revealed Electrical Appliances DivisionThe overpriced prices on devices have completely disappeared from the market amid a state of optimism about meeting the factories’ dollar needs, indicating the possibility of prices falling by a rate ranging between 20 to 30% during the next few days.

He mentioned in exclusive statements today that some appliances have already begun to decline, such as refrigerators, which in some brands have reached prices of 30,000 pounds and are currently trading near 22,000 pounds, expecting prices to continue to decline if the producing companies and factories provide the dollar.

Wafi Abu Samra, a member of the Board of Directors of the Electrical Appliances Division of the Giza Chamber of Commerce, said that the phenomenon of overpricing has disappeared from the electrical appliances market, and that the market is currently witnessing an abundance of electrical appliances.

He explained that these declines are the result of recent economic developments and a breakthrough in currency pricing, especially since the devices were priced at the dollar price on the black market of 70 and 75 pounds, and currently they will be priced at less than 50 pounds to the dollar, after announcing the details of the dollar management plan.

Abu Samra pointed out that companies have begun to gradually pump electrical appliances into the markets, which will contribute to the availability of devices and the return of normal movement to the electrical appliances market.

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