The dollar fell against the Egyptian pound during the trading day Monday, March 15, 2021, one penny in most banks and in the central bank.
The Egyptian pound also increased against the euro, sterling and The Saudi riyal, remained steady against the UAE dirham and fell against the Kuwaiti dinar.
Dollar Price in Egypt
The average dollar price at the Central Bank of Egypt today fell to 15.63 pounds for purchase and 15.73 pounds for sale, compared to 15.64 pounds for purchase and 15.74 pounds for sale, yesterday.
At the National Bank of Egypt (the largest government bank), the dollar fell one penny to 15.64 pounds to buy and 15.74 pounds for sale, compared to 15.65 pounds for purchase and 15.75 pounds for sale, Sunday.
The same price was repeated at The Bank of Egypt (the second largest government bank).
At Cib (the largest private bank in Egypt), the dollar fell one penny to 15.62 pounds to buy and 15.72 pounds for sale, compared to 15.63 pounds for purchase and 15.73 pounds for sale, yesterday.
The dollar’s decline comes as egypt’s economy is improving despite the Corona pandemic, amid a stable exchange market with foreign exchange availability.
Egypt succeeded in achieving positive figures during the difficult months of Corona, represented by the growth of the local economy and the improvement of unemployment rates in the domestic market.
Last Wednesday, Fitch Credit Rating agency confirmed Egypt’s rating at +B with a stable outlook, driven by optimism about reforms and economic growth.
Fitch said Egypt’s rating and outlook are supported by its recent record of economic and financial reforms.
Fitch expects Egypt to record real GDP growth of 3% by the end of the fiscal year in June 2021.
Fitch projected a marginal increase in the current account deficit in fiscal year 2021-2022.
Egypt’s poverty rate fell to 29.7% in fiscal year 2019-2020 from 32.5% in 2017-2018.
Eur and GBP prices
The price of the euro at the Central Bank of Egypt fell to 18.68 pounds for purchase and 18.81 pounds for sale, compared to 18.71 pounds for purchase and 18.84 pounds for sale, yesterday.
The average pound fell to £21.76 for purchase and £21.91 for sale, compared to £21.83 for purchase and £21.98 for sale, Sunday.
Prices of rial, dirham and dinar
The price of the Saudi riyal at the Central Bank of Egypt fell to 4.16 pounds for purchase and 4.19 pounds for sale, compared to 4.17 pounds for purchase and 4.19 pounds for sale, yesterday.
The average price of the AED remained constant at EGP 4.25 for purchase and EGP 4.28 for sale.
While the average price of the Kuwaiti dinar at the central bank increased to 51.76 pounds for purchase and 52.11 pounds for sale, compared to 51.73 pounds for purchase, and about 52.08 pounds for sale, yesterday.