An official source at the Central Bank, in statements to the Egyptian newspaper "Al-Mal", attributed the recent drop in the price of the dollar to the Egyptian pound by about 7 piasters, as Egypt received large foreign exchange flows during the past Wednesday and Thursday. Central bank data showed that the average dollar price fell by about 7 piasters at one time, to record 15.93 pounds for purchase, 16.03 pounds for sale compared to 16 for purchase and 16.10 for sale in trading on Wednesday.
And foreign investments in treasury bills increased by about 470 million dollars during last November, to reach 15.47 billion dollars, compared to 15 billion in the previous October.
At this level, it rises for the fourth consecutive month, and reaches the highest level since July of last year.
Foreign investments in treasury bills have seen steady increases since the float with the raising of domestic interest and the agreement on an economic reform program with the International Monetary Fund, and reached unprecedented rates in March 2018, recording $ 21.5 billion.
And the volume of investments began to decline from April 2018 to December of the same year, to reach the level of $ 10.7 billion before rising again, increasingly since the beginning of this year as a result of the end of the emerging market crisis.
The Central Bank of Egypt calculates the price based on the average exchange rates of the American currency against the Egyptian pound.