The price of the US dollar continued to stabilize on Thursday in Egyptian government and private banks, including the Central Bank of Egypt and the National Bank of Egypt.

The price of the dollar against the Egyptian pound in a number of Egyptian banks ob Thursday, was as follows:

Central Bank of Egypt

• LE30.8349 for purchase
• LE30.8349 for sale

National Bank of Egypt

• LE30.75 for purchase
• LE30.85 for sale

Banque Misr

• LE30.75 for purchase
• LE30.85 for sale

CIB Bank

• LE30.85 for purchase
• LE30.95 pounds for sale

HSBC Bank

• LE30.85 for purchase
• LE 30.95 for sale

Suez Canal Bank

• LE30.85 for purchase
• LE30.95 for sale

ALEXBANK

• LE30.85 for purchase
• LE 30.95 for sale

US dollar price forecast in Egypt

The US Federal Reserve is facing a problem, one of the most important factors of which is the interest rate hike series during 2022, Banking expert Ahmed Shawky, said.

“If the US Federal Reserve does not fix the interest rate, it will raise by a maximum of 25 basis points, which will attract more investments to the dollar,” he added.

In televised statements, Shawky explained that this step would negatively affect the performance of other currencies worldwide, especially emerging markets.

Shawky continued, in televised statements, that this step would negatively affect the performance of other currencies worldwide, especially in emerging markets.

He anticipated a rise in the price of the dollar in Egypt in the coming period by no less than ten percent.

Many international institutions also expect a rise in the price of the dollar against the pound soon, which is evident from the rise in future prices which exceeded LE40, he said.

Edited translation from Al-Masry Al-Youm