The exchange rate of the euro against the Egyptian pound on Sunday, February 21, 2021, has stabilized in most banks, exchange companies and the Central Bank of Egypt.
At the Central Bank, the euro against the pound exchange rate stabilized at 18.8282 pounds for purchase and 18.9517 pounds for sale, the same as yesterday..
At The National Bank of Egypt (the largest government bank), the euro was fixed at 18.8374 pounds for purchase and 19.0539 pounds for sale, and the same price was repeated at Bank of Egypt (the second largest government bank).
At CIB, Egypt’s largest private bank, the euro recorded 18.7762 pounds for purchase and 18.9578 pounds for sale.
Economy defeats pandemic
Egypt’s economic indicators are improving despite the Corona pandemic, amid a state of stability in the exchange market with the availability of foreign exchange.
The dollar is expected to fall against the pound in the coming days, with official data on the rise in remittances from Egyptians abroad despite the Corona pandemic.
Remittances from Egyptians working abroad rose significantly in 2020, representing strong support for the pound against the dollar.
The Central Bank of Egypt announced that the country received $27.1 billion in remittances from Egyptians working abroad from January to the end of November 2020.
Data from the Egyptian Central Agency for Public Mobilization and Statistics showed that consumer price inflation in Egyptian cities fell to 4.3% year-on-year in January, from 5.4% in December.