Egyptian pound gains value against Arab and major currencies

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Cairo: The Egyptian currency surged remarkably against major currencies, gaining ground against the British pound, the US dollar, the Yen and the European single currency.

The pound also gained value against the UAE dirham, the Saudi riyal and fluctuated against the Kuwaiti dinar.

According to a statement from the Central Bank of Egypt, the Egyptian pound rose to LE 11.179 for purchases and LE 11.221 for sales against the British currency on Wednesday compared with LE 11.230 and 11.271 respectively on Tuesday.

The pound also increased against the Euro to LE 7.544 for purchases and LE 7.572 for sales on Wednesday from LE 7.568 and LE 7.596 respectively a day earlier.

The Egyptian currency slightly rose against the US dollar to LE 5.7022 for purchases and LE 5.7233 for sales in Wednesday’s transactions. The pound traded at LE 5.7027 for purchases and LE 5.7226 for sales on Tuesday.

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