23 Hrs
Source:
الاقتصادية
Dollar surpasses 52 pounds in Egypt
The price of the dollar in Egypt has risen, surpassing 52 pounds in some banks, amidst increasing military tensions in the Middle East and growing concerns about the impact of escalation on oil prices and foreign currency inflows to the country. The rise is attributed to increased demand for the US currency due to regional risks, especially after the escalation of the confrontation between Iran and Israel, which puts pressure on Egypt's balance of payments by boosting the energy import bill amid a decline in the country's dollar revenues. It is likely that security tensions and fluctuations in oil prices will continue to influence the exchange rate, while a return of the dollar below 50 pounds depends on regional stability and an improvement in Egypt's dollar earnings.
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