Mohamed El Etrebi, president of Banque Misr, president of the Federation of Egyptian Banks, expressed his expectations for the dollar on Sunday in the country amid its record gains against the Egyptian pound in recent days.
In a telephone interview with Al-Hekaya, Mohamed El-Etrebi explained that “the market moves on supply and demand.”
Al-Etrebi pointed out that “the dollar fell after its rise after the liberalization of the exchange rate in 2016,” adding: “When placed in 2016, the dollar exceeded its correct price and went back down again … hit 20 pounds, hit 18 pounds, and then dropped to 15.70 pounds, and fixed at this figure for 5 years.
Commenting on some expectation that the dollar will reach 25 pounds tomorrow, Sunday, the head of the Egyptian Banks Association said: “Demand and supply move the price, but in my opinion it will not be a “bust” (exceeding) this time in the price of the dollar. “.
He continued: “The dollar should gradually move in line with its deficit,” noting that “Egypt is not isolated from what is happening in the world.”
Moderator: “Al-Masri Al-Youm”
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