The exchange rate of the Egyptian pound against the dollar fell today, Monday, in the banks’ transactions by about 10 piasters (the pound equals 100 piasters), while it settled with the Central Bank of Egypt.
The exchange rate of the Egyptian pound in banks
- The exchange rate of the Egyptian pound fell by about 10 piasters against the US dollar to 50.32 pounds when purchasing at HSBC Bank, Qatar National Bank, Export Development Bank, Credit Agricul, National National, Bank of the Banking Company and Abu Dhabi Islamic Bank, while the selling price in these banks reached 50.42 Against the dollar.
- The exchange rate of the Egyptian pound when purchasing was recorded 50.31 pounds in the Commercial International Bank, Alexandria Bank, Faisal Bank, Al Baraka Bank, the Arab and Al Ahli Bank, and the Suez Canal Bank, and the sale price reached 50.31.
- In the National Bank of Egypt and the Bank of Egypt (the largest government two banks), the exchange rate of the Egyptian pound when purchasing was 50.30, while the sale price recorded 50.40.
The exchange rate of the pound in the Central Bank of Egypt
The exchange rate of the Egyptian pound against the dollar in the central bank when purchasing was 50.17, an altitude of 50.18 registered in the last two days of transactions last month, while the sale price is 50.27 against the green paper.
The exchange rate of the pound in the parallel market
The selling and purchase prices are raised by a small margin in the parallel market transactions with the continued Egyptian banks to provide foreign currencies for import, and platforms that monitor the parallel market transactions indicate that the purchase price is 50.43 pounds per dollar, while the sale price is 50.67 against the dollar.
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News affecting the stability of the exchange rate of the Egyptian pound
- Data for the Egyptian Central Bank showed that Egypt sold a dollar wardrobe for a year of $ 1.061 billion in Ata today, Monday, with an average return of 4.250%.
- The head of the Suez Canal Authority, Lieutenant -General Osama Rabie, told AB Muller Merck, the giant shipping company, that there are indications of stability to return to the Red Sea, and urged the company to take this into consideration when setting plans and navigation tables, after Egypt lost about 7 billion dollars From the revenue of the channel in 2024.
- Egypt completed the end of last month the sale of international bonds for two billion dollars, which are the first international bonds that are located in the dollar that the country has issued 4 years ago, and Reuters quoted an Egyptian banker as saying that the version will contribute to raising the average deadlines for the total debt of Egypt.
- The Central Bank of Egypt said last month that the balance of the current transactions in the country amounted to $ 5.9 billion between July and September 2024 compared to $ 2.8 billion in the same quarter a year ago.
- The central bank said that the transfers of Egyptians abroad contributed to compensation for the decline in the channel’s revenues, indicating that the transfers increased to almost twice to 8.3 out of 4.5 billion dollars from July to September 2023.
- The net foreign direct investment flows in Egypt increased to $ 2.7 billion from $ 2.3 billion during the same period, while tourism revenues rose to $ 4.8 billion from $ 4.5 billion.
