Dollar rate in Egypt’s black market sees sudden, significant decline

The dollar price at the black market for currency speculation (the unofficial market) witnessed a significant decline by about five pounds during Thursday’s trading – the first time in a month.

Experts explained that the dollar price fell to about 47 pounds during Thursday’s trading compared to about 52 pounds during Wednesday due to the sharp decrease in purchase orders for it, according to the Masrawy website,

During November, the dollar recorded successive jumps in black market transactions, reaching 52 pounds due to a sudden increase in demand for its purchase in exchange for a shortage in supply in banks and ATMs.