Before deducting interest.. the price of the dollar in the National Bank of Egypt at the end of today’s transactions

Before deducting interest.. the price of the dollar in the National Bank of Egypt at the end of today’s transactions
Before deducting interest.. the price of the dollar in the National Bank of Egypt at the end of today’s transactions

The price of the US dollar stabilized against the Egyptian pound, today, Thursday, 22-9-2022, at the National Bank of Egypt, at the close of transactions.

The price of the dollar today in the National Bank

The price of the dollar today, at the National Bank of Egypt, scored about 19.44 pounds for purchase and 19.50 pounds for sale.

The price of the euro in the National Bank

The price of the euro today, at the National Bank of Egypt, reached about 19.07 pounds for purchase and 19.31 pounds for sale.

The price of the pound sterling in the National Bank

And the price of the pound sterling today, at the National Bank of Egypt, scored about 21.79 pounds for purchase and 22.15 pounds for sale.

central bank meeting

The Monetary Policy Committee of the Central Bank of Egypt will hold its new meeting on discussing the interest rate on deposits and loans, today, Thursday, amid varying expectations between the central bank raising interest rates or keeping them unchanged.

Over the past seven months, the Central Bank of Egypt held 5 meetings, during which it discussed the economic and financial reports and studies prepared by the monetary policy unit of the bank, the latest economic developments on the local and global arenas, and an assessment of the risks associated with the potential for inflation, in order to make decisions regarding the interest rate.

During the last 5 meetings, the Central Bank settled on raising the interest rate in the March and May meetings. It also decided to fix the overnight deposit and lending rates, during the February, June and August meetings, in an attempt to curb the rise in inflation significantly, and to counter the flight of hot money from the Egyptian market. After the recent decisions of the US Federal Reserve.

The stages of the interest rate in the central bank

The Central Bank’s decision came, at a meeting on Thursday, February 3, to keep the overnight deposit and lending rates and the central bank’s main operation rate at 8.25%, 9.25% and 8.25%, respectively, as well as keeping the credit and discount rate at the level of 8.25%. 8.75%.

On Monday, March 21, the Central Bank’s Monetary Policy Committee held an extraordinary meeting, instead of Thursday, 24 of the same month, during which it decided to raise the interest rate by 100 points, by 1%.

The committee held its third meeting on Thursday, May 19, in which it decided to raise the overnight deposit and lending rates and the central bank’s main operation rate by 200 basis points to reach 11.25%, 12.25% and 11.75%, respectively. The credit and discount rates were also raised by 200 basis points to 11.75%.

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