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US dollar loses 5 piasters against Egyptian pound on Wednesday

The US dollar lost about five piasters from its value against the Egyptian pound on Wednesday, averaging EGP 17.21 for buying and EGP 17.31 for selling, down from EGP 17.26 for buying and EGP 17.36 for selling on Tuesday. The official US dollar price in the Central Bank of Egypt lost between 3-4 piasters, reaching …

Hossam Mounir

Dollar breaks EGP 17, driven by shortage at banks 

The US dollar exchange rate to the pound exceeded EGP 17.5 on Tuesday, marking its highest level over the past two weeks. The depreciation comes as demand builds up to cover importation, leaving banks with a shortage. The greenback began a wave of strengthening again since last week, continuing its movement upwards to reach EGP …

Hossam Mounir

Reducing price of products depends on stability of US dollar

After the Ministry of Finance reduced the price of the US dollar used for customs to EGP16, down from EGP18.5 on 16 February, media outlets stated that the prices of a lot of products will decrease soon. The prices of almost all products have hiked during the previous months after the Central Bank of Egypt …

Hisham Salah