The dollar continued to decrease for the second day in a row at Egyptian banks after Monday’s decision by the Central Bank of Egypt to raise interest rates.
Dollar recorded on Thursday 18.29 for buying and 18.39 for selling against the Egyptian pound at the National Bank of Egypt.
The dollar price hike also affected gold prices. It led to a slight drop in gold prices Thursday’s morning.
The dollar price witnessed a high rise after the Monetary Policy Committee of the Central Bank of Egypt raised the interest rates to 25 points on Monday. It increased from 15.74 to 17.50 after being stable for six months.
Meanwhile, the Egyptian government sought to fix the Egyptian pound against the US dollar. But the spiraling inflation that the world witnesses led to an increase in dollar price against the Egyptian pound.
