11 Hrs
Source:
بوابة الشروق
Mohamed Fouad Details Dollar Demand Sources
The article features statements from economist and MP Mohamed Fouad regarding the demand for the dollar in Egypt. He explained that millions of dollars are needed to meet the requirements of non-oil imports and the energy sector. He pointed out that the value of non-oil imports reached $48 billion in the first half of the year, marking a 21% increase compared to the same period last year, while exports totaled $25.5 billion, up by 3%. He also highlighted that the energy bill, especially for gas and gasoline, consumes around $3 billion per month, and that geopolitical tensions have caused some investors to withdraw, directly impacting the exchange rate, which has remained between 47 and 51 pounds. The figures confirm that the market’s capacity to absorb hot financial flows is declining, making the dollar’s exchange rate sensitive to economic and political changes.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)