2023-08-06 18:31:57
The Saudi riyal is widely recognized as one of the most traded currencies in the world, and this comes thanks to the strong correlation between the Saudi riyal and global oil prices. Recently, the price of the Saudi riyal has stabilized against the Egyptian pound in Egyptian banks, after going through a period of severe fluctuations.
A daily and continuous procedure
It is worth saying that Egyptian banks are keen to update the price of different currencies on a regular basis. This procedure comes to ensure that the most accurate and useful information is provided to customers, which facilitates the process of buying and selling currencies with ease and ease.
Assess the current situation of the Saudi riyal price against the Egyptian pound
Let us give you a look at the details related to the price of the Saudi riyal against the Egyptian pound in various Egyptian banks, as follows:
Abu Dhabi Islamic Bank: the purchase price is 8.245, the selling price is 8.253. Al Ahli Bank of Kuwait: the purchase price is 8,234, the selling price is 8,253. Arab International Bank: buying price 8.226, selling price 8.253. QNB ALAHLI: The purchase price is 8.225, the selling price is 8.253. The Central Bank of Egypt: the purchase price is 8.225, the selling price is 8.223. Bank of Alexandria: buying price 8.212, selling price 8.252. Banque Misr: the purchase price is 8.195, the selling price is 8.226.
At the present time, the price of the Saudi riyal against the Egyptian pound is subject to fundamental fluctuations, sometimes it remains stable and sometimes it declines. The main factor in these movements is the price of the dollar, which largely controls the relative value of other currencies. On the black market, the price of the Saudi riyal against the Egyptian pound was recorded today at 11 Egyptian pounds, while its value in Egyptian banks reached 8.253 for sale and 8.24 for purchase.
Factors affecting the exchange rate
The price of the US dollar is one of the most important factors affecting the price of the Saudi riyal against the Egyptian pound. This drives many people to deal in the black market, where prices are much higher than those offered in banks. In fact, this difference in prices indicates a lack of confidence in the local economy, which requires a lot of reforms and upgrades.
In the search for the bank that offers the best price for buying the Saudi riyal, the National Bank of Greece tops the list with a price of 4.211 Egyptian pounds. This price reflects the competitiveness of the bank and the excellent services it provides to customers.
Overview of different currency rates
For those who wish to know the currency rate against the Egyptian pound, there are a number of different currencies that you can view their prices. Starting from the UAE dirham, which has a price of 8.4134 Egyptian pounds, passing through the Bahraini dinar, which has a price of 82.00148 Egyptian pounds, and finally the US dollar, which is trading at a price of 30.90242 Egyptian pounds. It is the latter that represents the main pillar in determining the price of the Saudi riyal against the Egyptian pound.
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