الاثنين، 25 أبريل 2016
Cracking the Egyptian pound against the dollar on the black market
Traders said the market parallel currency in Egypt on Monday that the US dollar continued breakthroughs "black market" to exceed the level of 10.50 pounds for the first time in its history.
The central bank's efforts have not succeeded in the past period, whether to cut the price of the currency or exceptional bidding, or close exchange companies, the elimination of the black market or even mitigate the decline in the pound.
The central may devalue the pound to 8.85 pounds to the dollar from 7.73 pounds on March / March 14, and announced that it will adopt a more flexible exchange rate. The bank raised the price a bit later to 8.78 pounds to the dollar, but experts say that the pound is still greater than its real value.
The new official rate for the pound in the interbank 8.78 pounds, while individuals buying the dollar from the banks at a price of 8.88 pounds.
A trader said the price rises quickly since Sunday, and yet, as there are many requests from some importers who have confirmed that the central promise of their currency but has not
Traders said the market parallel currency in Egypt on Monday that the US dollar continued breakthroughs "black market" to exceed the level of 10.50 pounds for the first time in its history.
The central bank's efforts have not succeeded in the past period, whether to cut the price of the currency or exceptional bidding, or close exchange companies, the elimination of the black market or even mitigate the decline in the pound.
The central may devalue the pound to 8.85 pounds to the dollar from 7.73 pounds on March / March 14, and announced that it will adopt a more flexible exchange rate. The bank raised the price a bit later to 8.78 pounds to the dollar, but experts say that the pound is still greater than its real value.
The new official rate for the pound in the interbank 8.78 pounds, while individuals buying the dollar from the banks at a price of 8.88 pounds.
A trader said the price rises quickly since Sunday, and yet, as there are many requests from some importers who have confirmed that the central promise of their currency but has not
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