Amidst a huge wave of conflicting currency rates in the Egyptian market, we find that there is a significant increase in the exchange rate of the pound against Saudi Arabia and the dollar for the third time in a row, significantly, as its price witnessed a significant increase in the value of the dollar at the end of 2022, and then we notice that this focus, which is witnessed by the rise, increases the gap and widens beyond the limit. Naturally, there is a state of confusion dominating people’s faces that dominates the Egyptian street now, so that questions begin to what extent this clear path will lead us in the rise of currencies, we will provide you with the smallest details.
A significant rise in the exchange rate of the pound against Saudi Arabia and the dollar
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According to the overall data that was issued by Refinitiv, we note that the bank is facing a clear shock, to decline against the dollar, and to record Thursday, January 12, about 32 pounds per dollar.
Also read: The exchange rates of the Saudi riyal against the Egyptian pound and the dollar on the black market
The depreciation of the pound against the dollar
According to recent Reuters reports, it has been clarified that there is a clear intention to devalue the pound against the dollar, and this is a result of Banque Misr’s announcement in one of the previous statements about the start of the process of issuing a certificate of savings according to a profit return estimated at 25 percent annually.
The currency market is witnessing remarkable confusion in Egypt
There is clear confusion in the Egyptian currency market today in Egypt, and this matter depends on the “supply and demand rate”, so that the price of the dollar against the Egyptian pound in banks is about 32 pounds.
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The price of the dollar against the pound in Egyptian banks
The price of the dollar against the pound in the National Bank of Egypt recorded about 29.75 for the purchase process, while it recorded for sales about 29.80 pounds.
While the dollar recorded against the pound in Banque Misr about 32 pounds for purchases and 32.10 pounds for sales.
The dollar recorded against the pound in the Abu Dhabi Islamic Bank about 31.80 pounds for purchases and 31.90 pounds for sales.
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The price of the Saudi riyal against the Egyptian pound today
The Saudi riyal recorded against the Egyptian pound today in Egyptian banks about 8.55 for purchases, and the equivalent of 8.59 pounds for sales.--
Also read: Urgent A significant decline in the exchange rate of the Saudi riyal against the Egyptian pound and the dollar on the black market
Frequently Asked Questions
What is the price of the dollar against the Egyptian pound today in Egyptian banks?
About 32 pounds and varies from one bank to another.
What is the price of the Saudi riyal today against the Egyptian pound?
The Saudi riyal recorded against the Egyptian pound today in Egyptian banks about 8.55 for purchases, and the equivalent of 8.59 pounds for sales.
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