Urgent: The Egyptian Stock Exchange fell to the bottom of two years… and the pound succeeded in coherence

While the Egyptian pound is awaiting, during these moments of trading today, Monday, the expected meeting of the Egyptian Central Bank next Thursday, July 23, where the Egyptian Bank intends to issue an interest decision.

The Egyptian Stock Exchange continued to bleed points to deepen its decline below the historical support levels at 10 thousand points, down to its lowest level since April 2020, to record the main market index, the lowest closing in 26 months.

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sharp decline

At the end of today’s trading, the main index of the Egyptian market EGX 30 ended at the lowest close since the April 6, 2020 session, as it closed at 9680 points, down 0.5%, or 48 points.

The index’s decline came after trading on 305.5 million shares, with a trade value of about 622 million pounds, through executing about 27.8 thousand deals during Monday’s trading.

At the end of trading, the declines overshadowed the performance of 142 shares, while the prices of about 41 shares rose, while the prices of about 15 shares stabilized at the previous close, unchanged from Sunday’s trading.

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Aliens exit

The losses of the Egyptian shares and the drop in the market value to levels near 646.7 billion pounds coincided with the continued exodus of foreign investors. On the other hand, the dealings of Arab and Egyptian traders tended to buy.

Foreign investors recorded sales transactions of 387 million pounds at the end of trading today, compared to purchases worth 239 million pounds, bringing the net foreign transactions to 147 million pounds as a result of selling.

On the other hand, Arabs’ transactions tended to buy, with net purchasing transactions worth 78 million pounds, while Egyptians recorded net purchasing transactions worth about 69 million pounds.

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pound today

The dollar exchange rate screen for the Central Bank of Egypt showed the stability of the dollar exchange rate at levels of 18.79 pounds for sale, while the purchase price recorded 18.71 pounds for sale during Monday’s trading.

While the euro exchange rate recorded stability near levels of 19.62 pounds per euro, the selling price, while the euro exchange rate recorded 19.54 pounds per euro as the buying price.

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Regarding the performance of the pound in the largest national Egyptian banks, the National Bank of Egypt and Banque Misr, the exchange rate witnessed stability at levels of 18.77 pounds for sale and 18.1 pounds for purchase, in the middle of Monday’s trading.

The exchange rate of the euro against the Egyptian pound in the national banks during Monday’s trading recorded levels of 19.65 pounds for sale and levels of 19.42 pounds for purchase.

The matter extended to the exchange rates in private banks, where the Egyptian Gulf Banks, Abu Dhabi Islamic Bank, Piraeus Bank, Commercial International Bank and Alexandria Bank recorded levels of 18.79 pounds for sale and levels of 18.74 pounds for purchase.

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