The price of the dollar against the pound has recorded a remarkable decline since the beginning of 2020 despite the Coronavirus pandemic, and although the US currency rose slightly over the course of May, the comparison of the price of the dollar since the beginning of the year until now has recorded a decline of 1.7%.
According to the figures and statistics, the price of the dollar recorded 15.99 pounds for purchase at the beginning of the year and now it is recording 15.72 pounds for purchase, down 27 piasters, and the selling price was recorded and 16.09 pounds in early January 2020 and now it is recorded at 15.82 pounds for sale, a decrease of 1.7%
The journey of the dollar’s decline against the pound would have gone well had it not been for the Corona virus crisis, which was reflected in the country’s monetary reserves, as it fell from $ 45 billion to $ 37 billion, but the government resorted to strengthening its reserves and the reserve rose to more than $ 38 billion again, which is What strengthened the pound’s position against the dollar.
The economy witnessed a noticeable exit from the bond market, which affected the position of the American currency, which witnessed a limited rise before it fell again against the Egyptian pound, which returned to good performance with the return of the dollar flow again with an increase in remittances from Egyptians abroad, as well as a limited return to tourism activities. .
The Central Bank of Egypt announced that remittances from Egyptians working abroad increased for the second month in a row during last July, compared to the same month last year.
The Central Bank stated – in a statement this week – that the remittances of Egyptians working abroad recorded 2.9 billion dollars last July, compared to 2.6 billion dollars in July 2019.
He pointed out that remittances from Egyptians working abroad increased from the beginning of this year until the end of last July, to record 17 billion dollars compared to 15.7 billion dollars during the same period in 2019.
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