The average price of the euro, against the Egyptian pound, rose today, Thursday, February 25, 2021, in the transactions of banks and exchange companies.
The average exchange rate of the Egyptian pound stabilized against the dollar, the Saudi riyal, the Emirati dirham, and the Kuwaiti dinar, while the local currency fell against the European euro and the pound sterling, during Thursday’s trading in the banking market.
The rise of the euro
The average euro exchange rate rose on the Central Bank of Egypt website, today, Thursday, to about 19.02 pounds for purchase, and 19.15 pounds for sale, compared to about 18.99 pounds for purchase, and 19.12 pounds for sale, yesterday, Wednesday.
The increase in the monetary reserves of Egypt supported the strength of the local currency against the green paper, and also contributed to the stability of the money market and the absence of the parallel market.
According to a survey by “Al-Ain News” on the prices of the euro in 23 banks, the average price of the euro today, Thursday, recorded about 18.96 pounds for purchase and 19.13 pounds for sale.
The Egyptian Central Bank announced that the country’s foreign exchange reserves had risen to $ 40.101 billion last January.
The highest price for the euro
The highest price for buying and selling the euro against the pound came at 19.02 pounds for purchase, and 19.18 pounds for sale, at the Housing and Development Bank.
While the lowest price came at 18.86 pounds for purchase, and 19.08 pounds for sale, in the Arab Investment Bank.
The price of the euro in the National Bank of Egypt (the largest government bank) was about 18.93 pounds for purchase, 19.13 pounds for sale, compared to about 18.95 pounds for purchase and 19.13 pounds for sale.
Dollar and sterling prices
The average price of the dollar in Egypt stabilized on the Central Bank of Egypt website, today, Thursday, at about 15.6275 pounds for purchase and 15.7272 pounds for sale.
The average exchange rate of the pound sterling increased to about 22.11 pounds for purchase and 22.25 pounds for sale, compared to about 22.01 pounds for purchase and 22.16 pounds for sale.
Real, dinar and dirham rates
The average exchange rate of the Saudi riyal stabilized at 4.166 pounds for purchase and 4.193 pounds for sale.
The average price of the Emirati dirham remained constant at 4,254 pounds for purchase and 4,282 pounds for sale.
While the Kuwaiti dinar scored 51.60 pounds for purchase, and 52.07 pounds for sale, compared to about 51.63 pounds for purchase, and 52.03 pounds for sale, yesterday.
The first offering of its kind
The Egyptian Ministry of Defense chose the sovereign fund “Tharaa” to sell part of the portfolio of companies owned by the army, as the first offering of its kind in Egypt.
Ayman Soliman, Executive Director of the Egypt Sovereign Fund, explained that the fund is expanding its network, while looking for potential buyers of the military-owned fuel station chain of the National Petroleum Company, by adding agency rights for owners of commercial chains to the list of candidates.
The Executive Director of Egypt’s Sovereign Fund confirmed to Al-Ain Al-Akhbar that “Wataniya”, which controls about 200 fuel stations, and the “Safi” bottling company for mineral water, are the first companies owned by the army’s National Service Projects Agency to be put up for sale.
Suleiman said that the sovereign fund helps sell between 80% and 90% of the National Petroleum Company, which is affiliated with the National Service Projects Organization, provided that it maintains a share between 10% and 20%, and that Suleiman hopes to complete the sale by the end of next June.