The price of the rial against the Egyptian pound, during the trading of Saturday, March 20, 2021, has stabilized in exchange companies and ATMs.
Friday and Saturday are an official holiday at Egyptian banks.
The Egyptian pound also stabilized against the UAE dirham, the dollar, the Euro and the pound.
The price of the Saudi riyal in Egypt
The average price of the Saudi riyal, at the Central Bank of Egypt, settled at 4.17 pounds for purchase and 4.20 pounds for sale.
At the National Bank of Egypt (the largest government bank), the Saudi riyal recorded 4.14 pounds for purchase and 4.19 pounds for sale.
The same price was repeated at Bank of Egypt (the second largest government bank).
At CIB (egypt’s largest private bank), the Saudi riyal recorded EGP 4.14 for purchase and 4.20 pounds for sale.
Last Thursday, the Central Bank of Egypt fixed interest rates, remaining in Egyptian banks as they are for the fifth month.
The Central Bank of Egypt’s Monetary Policy Committee kept overnight lending at 9.25%, and overnight deposit rates at 8.25%, for the third consecutive time, their lowest level since July 2014, after price cuts in September and November.
With this decision, interest rates in Egyptian banks remain the same for the fifth month in a row.
Fitch World Credit Rating Agency has confirmed that the Egyptian economy has outperformed a large number of economies classified by the agency over the past year.
The agency established the long-term classification of Egypt’s ability to pay off foreign currency debt at B+, with a “stable outlook.”
Egypt expects real GDP growth of 3% by the end of the fiscal year in June 2021.
Egypt’s foreign exchange reserves continued their nine-month ascent, after being affected by the 3-month-old coronavirus.
Data from the Central Bank of Egypt showed that net foreign reserves rose to $40.201 billion in February.
Dollar, euro and gbp prices
The average dollar price at the Central Bank of Egypt settled at 15.65 pounds for purchase and 15.75 pounds for sale.
The average euro price at the Central Bank of Egypt was fixed at 18.67 pounds for purchase and 18.79 pounds for sale.
The average pound sterling remained at 21.81 pounds for purchase and £21.95 for sale.
Prices of dirhams and dinars
The average price of the Uae dirham at the Central Bank remained at 4.26 pounds for purchase and 4.28 pounds for sale.
The average price of the Kuwaiti dinar at the central bank was 51.76 pounds for purchase and 52.23 pounds for sale.