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The price of the Egyptian pound stabilized against the US dollar, at the beginning of trading on Sunday, 27 November, at the Central Bank and private and government banks.
According to the latest data of the Central Bank of Egypt, the price of the dollar stabilized at 24.50 pounds for purchase, and 24.57 pounds for sale.
The price of the dollar at Al-Ahly Bank and Egypt recorded a level of 24.48 pounds for purchase, and 24.53 pounds for sale.
The price of the dollar also stabilized, on Sunday morning, at the Commercial International Bank at the level of 24.52 pounds for purchase, and for sale it recorded 24.58.
The Central Bank of Egypt had announced, earlier, several decisions, including raising interest rates by 200 basis points, liberalizing the exchange rate and gradual cancellation of the decision issued in February 2022 on “documentary credits in import financing operations,” noting that the decision It will be canceled in December.
Subsequently, the Egyptian government announced that it had reached agreements to obtain loans worth $9 billion as follows: $3 billion from the International Monetary Fund, $1 billion from the Sustainability Fund, and $5 billion from development partner countries, to finance the Egyptian budget.
