The cessation of dollar speculation in Egypt confuses the accounts of the black market

A state of confusion and extreme caution dominated dollar traders and traders in the parallel foreign exchange market in Egypt. In late trading on Sunday, the dollar's exchange rate continued to fall off the official market to as low as PS29, down from PS38 in last Friday's trading. The exchange rate of the dollar has experienced a significant movement against the Egyptian pound during the last period, having risen between 50-60 piasters in the last month. In private banks, the dollar exchange rate in the Commercial International Bank of Egypt recorded a level of 24.65 pounds for buying and 24.72 pounds for selling, and in the Egyptian Gulf Bank it recorded 24.69 pounds for purchase and PS24.72 for sales. The agreement provides for the possibility for the Egyptian state to request additional funding through the new 'Resilience and Sustainability Fund' of the International Monetary Fund. Egypt's comprehensive national economic reform agenda also includes an important axis related to strengthening the social safety net so as to ensure its effectiveness and goal.