The average exchange rate of the dollar against the Egyptian pound, in early trading on Tuesday, March 9, 2021, increased by 3 pc.
Credit Agricole was the best bank to sell the dollar for 15.68 pounds, while Alexandria Bank was the best bank to buy the dollar for 15.74 pounds.
On the central bank’s website, the exchange rate of the dollar against the Egyptian pound was 15.6772 pounds for purchase, and 15.7772 pounds for sale.
At the National Bank of Egypt (the largest government bank), the dollar price was 15.66 pounds for purchase and 15.76 pounds for sale, the same rates as the Bank of Egypt (government).
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 increase in Egypt’s cash reserves was supported by the strength of the local currency against the greenback, as well as the stability of the money market and the absence of the parallel market.
Egypt’s foreign exchange reserves continued its eighth-month ascent, after being affected by the repercussions of Corona for three months.
Egypt’s central bank announced a rise in the country’s foreign exchange reserves to $40.101 billion in January.
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.
Eur and GBP prices
The euro against the Egyptian pound on the central bank’s website recorded 18.6057 pounds for purchase, and 18.7260 pounds for sale.
The price of sterling against the Egyptian pound on Monday was 21.6800 pounds for purchase, and 21.8246 pounds for sale.
Prices of rial, dirham and dinar
The price of the Saudi riyal on Tuesday on the central bank’s website was about 4.1787 pounds for purchase, and about 4.2056 pounds for sale.
The price of the UAE dirham in early trading on Tuesday was 4.2677 pounds for purchase, and 4.2957 pounds for sale.
The Kuwaiti dinar registered about 51.7451 pounds for purchase and about 52.0924 pounds for sale.