What happened to the Egyptian pound after the huge Qatari deposit in the Central Bank?

The price of the US dollar rose today in the Central Bank of Egypt, in addition to other foreign currencies, several hours after the announcement of the Qatari deposit in the Central Bank of Egypt.

The average price of the US dollar rose today in banking transactions, according to a statement by the Central Bank of Kureshan, both in buying and selling.

The exchange rate of the dollar against the pound in Egyptian banks ranged from £24.43 as the highest dollar exchange rate to around £24.35 as the lowest dollar exchange rate.

And Bloomberg reported that the Qatar Investment Authority has invested $1 billion in Egypt’s central bank, while Doha is close to a deal to acquire government stakes in some of Egypt’s big companies.

The agency said in a report released today Wednesday that Qatar Investment Authority, which has $445 billion in assets, moved the funds ($1 billion) amid discussions about its acquisition of government stakes in Egyptian companies. familiar with the matter.

Last month, Bloomberg reported that Qatar was in preliminary talks for a deal worth about $2.5 billion, and the Qatar Investment Authority declined to comment on the deposit, while representatives from the Egyptian Central Bank were unavailable for comment.

Source: RT