Egypt Daily News – The official exchange rate of the dollar broke the 50-pound barrier in most banks operating in the local market, for the first time, bringing the number to a historic price recorded by the green currency for the first time ever, today, Thursday.
The selling price of the dollar in banks, in the middle of Thursday’s trading, recorded the highest value today at 50.06 pounds, and the lowest value at 49.88 pounds.
The official exchange rate of the dollar in the National Bank of Egypt and Egypt Bank recorded a value of 50.03 pounds for sale and a value of 49.93 pounds for purchase from customers.
While the official exchange rate of the dollar in the Commercial International Bank (CIB) recorded a value of 50.04 pounds for sale and a price of 49.94 pounds for purchase.
The price official exchange rate dollar at Qatar National Al Ahli Bank recorded 49.88 pounds for sale and 49.78 pounds for purchase.
Prime Minister Dr. Moustafa Madbouli had said in previous statements that the price of the dollar is governed by the forces of supply and demand and will fluctuate within the range of (5% +/-).
It is expected that prices and inflation will increase adding more burdens on the Egyptian consumer.