Urgent: Officially.. the pound loses 10 piasters in 72 hours. What happened to gold and stocks? by Investing.com


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Investing.com – The pound has fallen over the past three days by about 10 piasters in one go, falling to levels of 19.3884 pounds to the dollar, according to data from the Central Bank of Egypt on Sunday.

Today, Sunday, the Egyptian pound lost 3 new piasters, while last Thursday it lost 4 piasters, and a day before it lost another 3 piasters, and this came after 5 consecutive sessions of stability.

19 piasters in 20 days

And based on the current levels, 17 piasters are left for the pound on the journey to the lowest price ever, according to the official prices published by the Central Bank of Egypt today, Sunday.

Since the new Governor of the Central Bank of Egypt, Hassan Abdullah, took over the presidency of the bank on August 18, 2022, succeeding the resigned governor, Tariq Amer (EGX:) a year before the end of his term, the pound has lost 19 piasters in total.

While the pound has fallen since the decision to liberalize the exchange rates, or as described by the former central governor at the time, the correction of exchange rates, increasing by 3.5 pounds, or the equivalent of a decline in the range of 22.5%.

The markets are awaiting the sixth meeting of the Monetary Policy Committee during 2022 to discuss the fate of the interest rate on deposit and lending next month, corresponding to September 22.

gold today

Today, in Egypt, it declined, with a value of one pound, to record 21 karat, which measures the average price movements of gold, a value of 1113 pounds, and it was recording the average price of yesterday, about 1114 pounds.

The price of 24 karat gold today recorded a value of 1272 pounds, and the price of 21 karat gold today recorded a value of 1113 pounds, and the price of 18 karat gold today reached about 954 pounds.

While the price of gold today, 14 karat, recorded a value of 742 pounds, while the price of the gold pound today in Egypt recorded a value of 8904 pounds.

pound today

According to the screen of the National Bank of Egypt and Banque Misr, the exchange rate of the dollar against the Egyptian pound rose to levels of 19.35 pounds for sale and levels of 19.29 pounds for purchase, to lose three new piasters.

In the private banks of Abu Dhabi Islamic Bank, Commercial International Bank (EGX:) (CIB), Egyptian Arab Land Bank, The United Bank, Bank of Alexandria, HSBC, and Arab African International Bank, the selling price of the dollar recorded levels of 19.37 pounds, while it recorded The purchase price is close to 19.34 pounds per dollar.

Important levels

December 20, 2016 dollar exchange rate recorded 19.5605 the highest official ever.

March 20, 2022, the dollar exchange rate against the pound recorded levels of 15.7786 pounds to the dollar

March 21, 2022 witnessed the liberalization of the exchange rate, bringing the pound down against the dollar to levels of 18.2884

August 18, 2022 Amer’s resignation and the appointment of Hassan Abdullah The dollar exchange rate recorded 19.1984 levels

September 11, 2022, the exchange rate of the dollar against the pound recorded levels of 19.3884

stock market today

The Egyptian Stock Exchange closed Sunday’s session with a collective rise of its indices, and the main index on the EGX30 rose by 0.89% to 10,356 points, while the medium shares rose by 0.61%, to record 2287 points, and the broader index by about 0.61%, recording 3276 points.

The value of trading on shares only amounted to about 1.18 billion pounds, and the Egyptians tended to buy, while Arabs and foreigners tended to sell, and the green color dominated most of the traded shares, as 79 shares rose out of a total of 199 traded, while 54 fell, and 66 remained unchanged.

dollar globally

The foreign exchange market was characterized by high volatility last week, as traders reacted to changes in monetary policies, political events and various economic data.

The dollar opened the week’s trading at the level of 109.609, and it reached its highest level recorded this week on Wednesday at 110.786, then it retreated and gave up all its gains and ended the week’s trading, closing at the level of 109.003.

global gold

Gold prices pared their gains when settling Friday’s trading, with the dollar’s ​​weakness and anticipation of the prospects for monetary policy in the United States, and gold failed to maintain its gains that exceeded 1% earlier in trading, after statements by a number of Federal Reserve officials regarding tightening monetary policy.

US Federal Reserve Board member Christopher Waller said he expects a significant rate hike during the September meeting, and St. Louis Fed President James Bullard said he has become more supportive of the third consecutive rate increase of 75 basis points.

December delivery rose 0.5%, or $8.40, to reach $1728.60 an ounce upon settlement, after reaching $1,740 earlier in trading, and in the total trading this week, precious metal contracts rose by 0.3%, which is the first weekly increase. in a month.

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