The US dollar price stabilized at the beginning of trading, Wednesday, February 1, in banks, after its last rise against the pound at the Central Bank of Egypt Tuesday, hitting LE30.15 for purchase and LE30.23 for sale.
At the global level, the dollar index, which measures the performance of the US currency against six other major currencies, decreased by 0.029 percent, according to Reuters.
The Central Bank raised the interest rate by 300 basis points in January, during the last meeting of the Monetary Policy Committee in 2022, while at the global level, the dollar index recorded a slight decline, which affected the price of gold globally and locally.
The price of the dollar on Wednesday across Egyptian banks:
Abu Dhabi Islamic Bank
LE30.18 for purchase
LE 30.23 for sale
ALEXBANK
LE30.13 pounds for purchase
LE 30.23 for sale
Commercial International Bank
LE30.13 for purchase
LE 30.23 for sale
Banque du Caire
LE30.13 for purchase
LE 30.2 for sale
Arab African International Bank
LE30.18 for purchase
LE 30.23 for sale
Banque Misr
LE30.03 for purchase
LE30.13 for sale
National Bank of Egypt
LE30.03 for purchase
LE 30.13 for sale
Suez Canal Bank
LE30.13 for purchase
LE 30.23 for sale
The price of the dollar stabilized to a large extent against currencies on Wednesday after its decline in the previous session, in the wake of US data that indicated a calm in pressures on wages as investors await the conclusion of the policy meeting of the Federal Reserve.
The Fed Reserve is expected to raise interest rates by 25 basis points on Wednesday.
Fed Reserve Chairman Jerome Powell’s press conference is likely to capture attention as traders seek clues as to how long the Fed’s tightening tendency is likely to last.
Source: Egypt Independent