Media ININ Economy We Trust
The exchange rate of the Egyptian pound stabilized, near its lowest level against the US dollar, at the beginning of trading, Sunday, December 18, with 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 24.63 pounds for purchase, and 24.71 pounds for sale.
The price of the dollar at the National and Egyptian Banks stabilized at 24.61 pounds for purchase, and 24.66 pounds for sale.
And the price of the dollar, on Sunday morning, at the Commercial International Bank, recorded a level of 24.65 pounds for purchase, and for sale, a record of 24.72.
The Central Bank of Egypt had announced, earlier, several decisions, including raising interest rates by 200 basis points, liberalizing the exchange rate, and gradually canceling the decision issued in February of 2022 on “documentary credits in import financing operations.”
After that, 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.
