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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

US dollar supply at banks increase, demand cools 

Banks operating in the local market are experiencing a US dollar supply increase while demand has cooled in recent days, according to Tamer Youssef, head of treasury at a bank operating in the domestic market. Banks have seen significant demand for the dollar during December and the first days of January because foreign companies operating …

Hossam Mounir