Foreign currencies began their dealings, this Thursday morning, October 7, with the stability of prices in exchange companies affiliated with Egyptian banks on the closing prices.
The “Akhbar Al-Youm” portal publishes foreign exchange rates against the Egyptian pound in banks operating in the local market. The euro price recorded about 18.03 pounds for purchase, and 18.26 pounds for sale, and the price of the sterling pound recorded about 20.18 pounds for purchase, and 21.46 pounds for sale. .
The price of the Swiss franc scored about 16.80 pounds for purchase, and 16.95 pounds for sale, and the price of 100 yen scored about 13.99 pounds for purchase, and 14.12 pounds for sale.
Foreign exchange rates witnessed a state of discrepancy over the past period, between rise and fall, according to the supply and demand mechanism followed by banks operating in the local market, since the Egyptian pound was completely liberalized against foreign currencies.
As for the US dollar index, this week’s trading closed at a high (+0.66%), to record its highest level in 3 weeks, as investors turned away towards the end of the week from risk, after the retail sales data unexpectedly rose in August, which indicates The possibility that the Federal Reserve will reduce the volume of its bond purchases earlier than expected.
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