For the seventh consecutive day, the Egyptian pound declined against the US dollar in a Central Bank of Egypt (CBE) auction reaching EGP 7.46 on Wednesday, declining almost three piasters.
The US dollar exchange value jumped to EGP 7.5 in the National Bank of Egypt (NBE), while it reached EGP 7.5 in Banque Misr.
In the last week, the Egyptian pound’s value depreciated officially to EGP 7.34 against the US dollar.
The decreased value of the Egyptian pound started at the beginning of last week when the CBE devaluated the US dollar value to EGP 7.19 in an auction.
Market analyst Moustafa Badra said the Egyptian pound’s decrease will boost investments by motivating the appetite of Arab and foreign investors.
Read more at Click here / www.trade4x.net
The US dollar exchange value jumped to EGP 7.5 in the National Bank of Egypt (NBE), while it reached EGP 7.5 in Banque Misr.
In the last week, the Egyptian pound’s value depreciated officially to EGP 7.34 against the US dollar.
The decreased value of the Egyptian pound started at the beginning of last week when the CBE devaluated the US dollar value to EGP 7.19 in an auction.
Market analyst Moustafa Badra said the Egyptian pound’s decrease will boost investments by motivating the appetite of Arab and foreign investors.
Read more at Click here / www.trade4x.net
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