The dollar is losing 5 piasters against the pound today and has lost 84 piasters since the beginning of the year

Economy and stock exchange

The dollar fell against the Egyptian pound on Monday, peaking at 5 piasters to hit 17.03 for buying and 17.13 for selling, and losing about 84 piasters since the beginning of 2019, supported by foreign exchange flows from multiple sources.

The price of the currency "thermometer" performance of the economies of countries, and when the flow of dollars and capital in foreign currency, this helps to strengthen the currency, and in the context of progress and improve the indicators of the Egyptian economy significantly over the past period, the price of the pound against the dollar, reflected during the four months With the domestic currency rising against its US counterparts. This performance is expected to continue in the coming period as economic indicators improve and Egypt's 5 dollar resources improve.

The exchange rate in Egyptian banks is determined according to the mechanism of supply and demand, and the more dollar supply and the decline in demand, the lower the dollar.