The average exchange rate of the Saudi riyal against the Egyptian pound continued to rise today, Thursday, in the transactions of banks and exchange companies, for the second day.
According to a survey conducted by Al Ain News in 24 banks, an average increased The price of the riyal In banks, today, Thursday, one penny to about 4.11 pounds for purchase and 4.20 pounds for sale.
According to the Central Bank website, Thursday’s transactions witnessed an average rise The price of the Egyptian pound, Against the European euro, the British pound, andSaudi riyal, The Emirati dirham, and the Kuwaiti dinar.
The price of the Saudi currency at the Central Bank of Egypt rose to 4.165 pounds for purchase, and 4.191 pounds for sale, compared to 4.161 pounds for purchase and 4.188 pounds for sale.
The highest price of the riyal
The Saudi riyal recorded the highest purchase price at 4.17 pounds in 3 banks. It is Al-Mashreq, the Arab International Bank, and Bloom Egypt, while the highest selling price of the Saudi riyal came at 4.23 pounds in Al Baraka Bank only.
The average price of the Saudi riyal in the National Bank of Egypt (the largest government bank) was 4,097 pounds for purchase and 4,188 pounds for sale.
The economy has escaped the ordeal of Corona
Dr. Mohamed Maait, the Egyptian Minister of Finance, confirmed that the Egyptian economy was able to achieve positive growth rates during the fiscal year 2019-2020, amounting to 3.6%.
This is in line with International Monetary Fund data that confirmed that Egypt is the only country in the Middle East and North Africa region that achieves positive growth rates, despite the repercussions of the Corona virus.
The Egyptian economy achieved a growth of 5.6% by the end of 2019, and the Egyptian government had expected it to reach 6% by the end of this year, but the Covid-19 pandemic prevented that.
Dollar, euro and sterling prices
The average exchange rate of the dollar rose to about 15.62 pounds for purchase, 15.72 pounds for sale, compared to 15.61 pounds for purchase, and 15.71 pounds for sale, yesterday, Wednesday, according to the Central Bank of Egypt website.
The average price of the European euro increased to 19.01 pounds for purchase, 19.13 pounds for sale, compared to 18.97 pounds for purchase, and 19.10 pounds for sale.
The average price of the pound sterling increased to 21.37 pounds for purchase, 21.50 pounds for sale, compared to 21.23 pounds for purchase and 21.36 pounds for sale.
Dirham and dinar rates
The average price of the Emirati dirham, with the Central Bank, increased to 4.253 pounds for purchase, and 4.281 pounds for sale, compared to 4.250 pounds for purchase and 4.278 pounds for sale.
While the average price of the Kuwaiti dinar rose to 51.52 pounds for purchase, 51.88 pounds for sale, compared to 51.38 pounds for purchase and 51.85 pounds for sale.
The strongest pound
The Egyptian pound recorded the strongest performance among emerging market currencies during the year 2020, despite the emerging coronavirus (Covid-19) pandemic.
Among the 9 major emerging market currencies whose movements were monitored during the year 2020, the Egyptian pound was the only one that succeeded against the dollar, to tweet alone with gains of 2.25% since the beginning of the year.