$TRUMP
$XAU The US dollar is rising globally, putting pressure on the Egyptian pound despite inflows of hot money
The dollar rose by a few piastres against the Egyptian pound this morning, extending gains from recent days after a temporary decline yesterday, despite the return of hot-money inflows to Egyptian debt instruments and foreign-exchange reserves reaching a new record high of $57.35 billion. The dollar traded between 52.20 and 52.38 pounds for buying and between 52.30 and 52.48 pounds for selling at banks. At the Central Bank, it was 52.25 for buying and 52.39 for selling, according to an “Al Arabiya Business” survey. So why isn’t the pound benefiting from figures that appear strong?
Today’s rates
Highest: 52.38 buying and 52.48 selling at Abu Dhabi Islamic Bank, Crédit Agricole, Next, Bank of Alexandria and Qatar National Bank.
National Bank of Egypt, Commercial International Bank, Arab Bank and SAIB: 52.36 buying and 52.46 selling.
Banque Misr, Al Baraka, Faisal Islamic Bank and Arab African International Bank: 52.35 buying and 52.45 selling.
Lowest: 52.20 buying and 52.30 selling at the Egyptian Arab Land Bank.
Central Bank: 52.25 buying and 52.39 selling, about 1.16% higher than 51.65/51.79 on September 29, and about 4% below the April peak of 54.6 pounds.
#FedMinutesFocusOnOctoberPause #BinanceLaunchesBinanceIntelligence #RobinhoodAdds$25MInBitcoinToBalanceSheet #SP500AndNasdaqHitRecordHighs #USMortgageRatesRiseTo7.49%
$XAU The US dollar is rising globally, putting pressure on the Egyptian pound despite inflows of hot money
The dollar rose by a few piastres against the Egyptian pound this morning, extending gains from recent days after a temporary decline yesterday, despite the return of hot-money inflows to Egyptian debt instruments and foreign-exchange reserves reaching a new record high of $57.35 billion. The dollar traded between 52.20 and 52.38 pounds for buying and between 52.30 and 52.48 pounds for selling at banks. At the Central Bank, it was 52.25 for buying and 52.39 for selling, according to an “Al Arabiya Business” survey. So why isn’t the pound benefiting from figures that appear strong?
Today’s rates
Highest: 52.38 buying and 52.48 selling at Abu Dhabi Islamic Bank, Crédit Agricole, Next, Bank of Alexandria and Qatar National Bank.
National Bank of Egypt, Commercial International Bank, Arab Bank and SAIB: 52.36 buying and 52.46 selling.
Banque Misr, Al Baraka, Faisal Islamic Bank and Arab African International Bank: 52.35 buying and 52.45 selling.
Lowest: 52.20 buying and 52.30 selling at the Egyptian Arab Land Bank.
Central Bank: 52.25 buying and 52.39 selling, about 1.16% higher than 51.65/51.79 on September 29, and about 4% below the April peak of 54.6 pounds.
#FedMinutesFocusOnOctoberPause #BinanceLaunchesBinanceIntelligence #RobinhoodAdds$25MInBitcoinToBalanceSheet #SP500AndNasdaqHitRecordHighs #USMortgageRatesRiseTo7.49%
