The average price of the USD in banks stabilised at EGP 18.2628 for buying and EGP 18.3628 for selling by the end of the trading session on Sunday, recording no changes from its level since the end of last week.
The official price of the USD at the Central Bank of Egypt (CBE) also stabilised at EGP 18.2441 and EGP 18.3754.
The price of the USD decreased by about 19 piasters last Wednesday and Thursday after rising by about EGP 2.78 on Monday and Tuesday following the CBE’s decision to devalue the EGP and raise key interest rates by 1%; a move that Governor of the CBE Tarek Amer said aims to preserve Egypt’s financial capabilities and maintain foreign exchange liquidity in order to secure the needs of Egyptian society in light of the difficult international conditions.
During Sunday’s trading session today, the price of the USD settled at EGP 18.27 and EGP 18.37 in the National Bank of Egypt (NBE) and Banque Misr, and EGP 18.25 and EGP 18.35 at the Commercial International Bank (CIB).
Furthermore, the exchange rate of the euro at the NBE and Banque Misr recorded EGP 20.06 for buying and EGP 20.27 for selling. The CIB’s rates stood at EGP 20.04 and EGP 20.25.
The price of the British pound stood at EGP 24.04 and EGP 24.29 at the NBE and Banque Misr, and EGP 24.01 and EGP 24.26 at the CIB.
At the level of Arab currencies, the price of the Saudi riyal reached EGP 4.86 and EGP 4.89, the Kuwaiti dinar recorded EGP 57.77 and EGP 60.41 for sale, and the Emirati dirham EGP 4.97 and EGP 5.