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The Inevitable: Egyptian Government Warns of a Major Catastrophe Looming for the U.S. Dollar

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

The Information and Decision Support Center of the Egyptian Council of Ministers underlined the pressure on the US dollar and the decline in its share in foreign exchange reserves.

The center said the dollar is declining along with global central banks, pointing out that the green book is experiencing the biggest decline in its share of international reserves since 1999.

And during an infographic published by the Clearinghouse, he made it clear that there are possibilities that the dollar will cease to be the world’s reserve currency, and its catastrophic fall is imminent, and America will face an unprecedented crisis if the dominance of the dollar in the world economy is significantly reduced.

As US Senator Marco Rubio said: “If other countries use their own currencies in trade, we will not have the opportunity to punish them.”

In this regard, the price of the dollar against the Egyptian pound fixed stability at the beginning of today’s trading, on Thursday, April 13, 2023, in light of the weakness of banks and the banking sector after the increase in interest rates at the global and local levels. , which poses a great threat to global economic growth, according to the International Monetary Fund.

According to the latest reports of the Central Bank of Egypt on foreign exchange rates against the Egyptian pound, today, Thursday, April 13, 2023, the price of the dollar has stabilized at 30.83 pounds to buy, and at the level of 30.93 pounds to buy. sale.

The price of the dollar in a number of Egyptian banks.. Dollar in Banque Misr.. The dollar price in Banque Misr today stabilized against the Egyptian pound, at the level of 30.75 pounds to buy, and the level of 30.85. pounds to sell.

Source: Cairo 24

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