Mohamed Talaat, head of the Mobile Division at the Chamber of Commerce, said that about 5 companies, among the most important companies in the Egyptian market, told traders and delegates to stop buying and selling due to the instability in the exchange rate of the dollar and foreign currencies against the Egyptian pound, today, Wednesday.
The head of the mobile division added, in statements to Al-Masry Al-Youm, that among the most prominent companies are Samsung and Xiaomi, due to the arrangement of the general price position of the mobile phone market during the coming period, indicating that the decision will be subject to review until the exchange rate of the pound stabilizes against the US dollar
The head of the Mobile Division indicated that the companies coordinate with delegates and merchants periodically, especially in the circumstances of the instability of the exchange rate of the dollar and foreign currencies against the Egyptian pound until the situation in general and completely stabilizes, and then determine the buying and selling price of mobile phones.
The exchange rate of the dollar against the pound witnessed a clear rise, this morning, Wednesday, to reach 32 pounds at noon today, and decline again at less than 30 pounds in private and official banks, in the wake of one day of the International Monetary Fund’s announcement in a press conference, Egypt’s commitment to an exchange rate. Flexible to the Egyptian pound.
