The price of the dollar on Monday, January 27, 2020, the price of the dollar continued to decline against the Egyptian pound, as the price of the dollar fell today a new decline, as the price of the dollar fell today in many Egyptian banks, to record the highest price of the dollar, which is 15.78 in the Mashreq Bank.
It is noteworthy that the value of the decline in the price of the dollar since the beginning of 2019 has reached nearly two pounds and 9 piasters, with a retreat that exceeds 11.7%. Imports, and the past weeks have witnessed large inflows of foreign exchange on government debt instruments from international investment funds.
“Egypt 365” provides the latest update of the dollar price today in banks operating in Egypt and the black market, the latest movements of the dollar price today on the black market and ATMs, and the “Egypt 365” website provides comprehensive and instant coverage of the dollar price today in the official local market and the parallel market.
Dollar price today Dollar price forecast
Some economic reports and studies stated that the continued rise of the pound against the dollar will not last for long, contrary to other expectations, see this report: The Economist: sharp fluctuations in the price of the pound and its price stability in 2024.
An economist said that the rise in the monetary reserve to new highs, after the increase reached about 150% since 2013, thanks to the increase in financial transfers for Egyptians abroad, as well as a significant recovery of the tourism sector, along with an increase in natural gas exports abroad, gave the economy a significant increase in the hard currency : An economic expert expects the Egyptian currency to drop against the dollar to 13 pounds.
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The price of the dollar today in banks and the parallel market
Table of dollar prices in banks and parallel.
The price of the dollar today on the black market
The price of the dollar fell today on the black market to 15.77 pounds for purchase and 15.85 pounds for sale.
It is worth noting that there are extensive restrictions on the part of the Egyptian government, as it restricted black market traders during the past months.
The Egyptian pound rose, whose exchange rate was liberalized in late 2016 as a result of a crisis in foreign currencies, which increased the attractiveness of investing in debt instruments in the local currency last year, which recorded a very attractive return of about 15% on local bonds, in addition to Economic reforms that Egypt witnessed in the recent period.
And Bloomberg announced that the Egyptian pound is one of the best performing currencies in the world during the past year 2019, and the price of the dollar broke a major price barrier after inflows exceeded $ 1.5 billion during the past week.
The emergence of the US dollar
The dollar is the base currency of the United States of America, and is equal to 100 cents, and the dollar is denoted by the symbol “USD, or $”. The largest denomination of the dollar reaches 100,000 per paper, but during the current time production of that category of the dollar, the largest paper category, has been stopped at the present time. For $ 100 USD.
It should be noted here that the global currency must be covered with its value of the yellow metal “gold”, to give it sufficient confidence, and the US dollar must be covered with its value of the yellow metal, but in reality no one can actually prove this because the United States of America has refrained since Not long after replacing the US dollar with an equivalent value of gold, although the price of gold is sold globally in US dollars, and the price of gold is determined according to the stock exchange and is valued in the American currency.
The United States of America lifted the gold cap on the US dollar during 1973, after Charles de Gaulle asked the President of France to replace what is available with the French Central Bank with US dollars in gold equivalent. Since this year, the real value of the American currency has decreased by nearly 40 times.