The exchange rate of the dollar in Egypt is linked to several factors, as many people ask, “Will the price of the dollar decrease in Egypt?”, after its price has stabilized and stabilized during the last period.
Rashad Abdo, a professor of economics at Cairo University, said in statements to Al-Masry Al-Youm that “the most important conditions of the International Monetary Fund is that the exchange rate of the pound be flexible, determined by the strength of supply and demand in Egypt, provided that its price is high in the event of an increase in demand for it, as well as a decrease.” If the supply is more than what is required.
And he continued: “If the price of the dollar in Egypt will decrease in cases where the specific conditions for its decline are met, such as the lack of demand for it and its availability in excess of the market’s needs, then it is considered the greatest influence on the price of the dollar in Egypt, the movement of buying and selling, or the pressure of demand for it, even if it decreased globally.”
Regarding the expectations of the dollar price in 2023 and the fate of the pound in Egypt, Abdo says, “The price of the dollar in Egypt will increase in the coming days, whether the increase is in one installment followed by stability, or a gradual increase in several piasters at a successive pace.”
This article was originally published by RT.