The exchange rates of the dollar in the parallel market for the currency in Egypt have witnessed a significant decline since the beginning of this week's trading, with prices ranging specifically between 42 and 44 pounds for purchase, compared to trading prices of 48 pounds for buying at the beginning of last week's trading.
The trend of dollar prices in the parallel market to the downward path came as a result of the decline in demand for it, due to several measures and decisions. Most notably the Central Bank of Egypt's reopening of the limits of credit card use abroad for travelers again, and the extension of the initiative to import cars for Egyptians living abroad for a new 3 months. The currency swap agreement with the UAE, the China Development Bank's $957 million loan to Egypt, and Egypt's consultations with Turkey to swap the currency have all limited the significant pressure on the Egyptian pound.
Source (Al-Arabiya.net Website, Edited)
