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Traders' hesitation harnessed the dollar exchange rates during Eid el-Fitr recess, a source said

Category: Economy

Date: 2021-05-18T14:33:37+0000
Traders' hesitation harnessed the dollar exchange rates during Eid el-Fitr recess, a source said

Shafaq News/ A government source attributed the stable exchange rate of the US dollar despite halting trading at the currency auction during Eid el-Fitr recess to the discrepancy between the Central Bank and the market prices.

A government source said that traders refrained from buying US dollars from the market during the Eid recess, which dosed the prices under the bridle.

Fears of unanticipated decisions that might tamper with the exchange rate and the disparity of the market and the bank prices, which might amount up to 3000 dinars per $100, reined the traders' appetite, the source elaborated.

"The bank will resume meeting the banks' demands starting from next week after the end of the recess," the source added, "a slight slump may occur next week due to lower demand."

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