The dollar against the Egyptian pound continued to stabilize during trading on Thursday, March 18, 2021, in banks and exchange companies.
The Egyptian currency rose, during thursday’s trading, against the European euro, while falling against the pound, while stabilizing against the Saudi riyal and the Uae dirham.
Dollar Price in Egypt
The average dollar price at the Central Bank of Egypt, for the second day in a row, on Thursday, settled at 15.65 pounds for purchase and 15.75 pounds for sale.
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.
According to the “Al Ain News” survey on prices in 29 banks, the average price of the dollar, about 15.66 pounds for purchase, and 15.76 pounds for sale.
Highest dollar price in Egypt
The dollar recorded the highest price at around EGP 15.66 to buy, and 15.76 pounds for sale at 22 banks, including International Commercial, Emirates Dubai, Cairo, Kuwait National, HSBC, Mashreq, Suez Canal, Al Baraka and United National.
The dollar at Al Ahli Bank of Egypt and Egypt (the two largest government banks) settled at about 15.64 pounds for purchase and 15.74 pounds for sale, the lowest price for the dollar in Egypt.
For the second month in a row, Egypt has kept inflation at relatively low levels, appearing to be below the central bank’s targets.
In February, the annual inflation rate remained at 4.9% in egypt as a whole (RIF) according to data from the Central Authority for Public Mobilization and Statistics, published on Wednesday.
But that percentage is slightly lower than the Central Bank of Egypt’s targets, which aim to bring inflation below 7% or more than two percentage points, does the central bank seek to raise inflation?
Eur and GBP prices
The euro price at the Central Bank of Egypt fell to 18.65 pounds for purchase, and 18.77 pounds for sale, compared to 18.68 pounds for purchase, and 18.80 pounds for sale, on Wednesday.
The average price of sterling rose to around 21.77 pounds for purchase, 21.91 pounds for sale, compared to 21.73 pounds for purchase, and 21.87 pounds for sale.
Prices of rial, dirham and dinar
The average price of the Saudi riyal, at about 4,175 pounds for purchase, and 4.201 pounds for sale.
The average price of the AED also remained at 4.26 pounds for purchase and 4.29 pounds for sale.
The average price of the Kuwaiti dinar at the central bank, about 51.86 pounds for purchase, and 52.20 pounds for sale, compared to about 51.80 pounds for purchase, and about 52.26 pounds for sale, yesterday.
New motivation package
Egyptian President Abdel Fattah al-Sisi on Monday called on the Egyptian government to increase the salaries of all government workers by 37 billion pounds ($2.3 billion).