The price of the dollar today, Saturday, March 28, 2020 in Egypt, the price of the dollar fell today by 5 piasters on the black market, and the price of the dollar fell today in some banks by one penny, and the highest price of the dollar in banks was recorded at 15.71 pounds for purchase in the Abu Dhabi Islamic Bank.
“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.
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The price of the dollar today in banks and the parallel market
The price of the dollar today on the black market
The price of the dollar on the black market recorded 15.85 pounds for purchase and 15.95 pounds for sale.
Table of dollar prices in banks and parallel.
The price of the dollar today
The volume of foreign reserves at the Central Bank of Egypt increased at the end of December 2019 to $ 45.420 billion, compared to $ 45.354 billion, an increase of about $ 66 million.
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.
According to the central bank report, Egypt imports an average of $ 5 billion a month of goods and products from abroad, with an annual total estimated at more than $ 55 billion, and therefore the current average of foreign exchange reserves covers about 8 months of merchandise imports to Egypt, which is higher than The global average of about 3 months of merchandise imports to Egypt, which secures Egypt’s basic and strategic commodities needs.
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 report of the Ministry of Planning and Economic Development pointed out that the government revealed the reasons that push the pound to a gradual and continuous improvement in front of the American currency, as the report came indicating that the export proceeds increased by about 300 million dollars during the first quarter of the fiscal year 2020/2019 compared to the same period of the year The previous financial year, and also pointed to the decrease in imports by about 700 million dollars during the first quarter of the current fiscal year compared to the same period in the previous fiscal year.
The report also pointed to indicators of a significant increase in net foreign direct investment during the first quarter of the current fiscal year to 2.35 billion dollars, an increase of 66% compared to the first quarter of the previous fiscal year, as well as remittances from Egyptians working abroad, which witnessed a significant increase during the first quarter of the year The current fiscal year, to $ 6.71 billion (the highest value of remittances of workers abroad, up 14%.
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 amounts to 100,000 per paper, but during the present time 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 from 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.