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Dollar surpasses 51 pounds in Egypt
The dollar's exchange rate against the Egyptian pound rose at the end of the week, surpassing 51 pounds, with its value continuing to increase by between 53 and 61 piastres compared to the previous week. This was due to foreign sales totaling approximately $1.5 billion in the secondary market. Additionally, the financial market experienced Arab and Iranian tensions in the Middle East, which impacted the value of the US currency. The dollar had previously reached record highs close to 54.53 pounds during the peak of tensions in March and increased by more than 13% over the past month before gradually declining as foreign sales grew. Meanwhile, regional tensions led to a change in the exchange rate that reflects the dollar's rise and the influence of conflicts on the currency's value.
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