While a state of confusion dominated the parallel exchange market in Egypt, the exchange rate of the dollar recorded new increases against the Egyptian pound in the official market, during today’s trading, Wednesday.
The new heights may be related to the imminent meetings of the International Monetary Fund, which will discuss the Egyptian file, next Friday, and the start of the meetings of the US Central Bank, which is expected to raise interest rates by about 50 basis points to confront high inflation.
read more: A state of anticipation pushes the price of the dollar in Egypt to these levels
With the Central Bank of Egypt, the exchange rate of the dollar recorded a level of 24.65 pounds for purchase, compared to 24.73 pounds for sale. The exchange rate of the dollar witnessed a significant movement against the Egyptian pound during the last period, as it rose during the past month between 50 and 60 piasters.
And in the two largest banks in terms of assets and transactions, namely the National Bank of Egypt and Banque Misr, the exchange rate of the dollar in today’s transactions recorded a level of 24.61 pounds for purchase, and 24.66 for sale.
In private banks, the exchange rate of the dollar at the Commercial International Bank of Egypt recorded a level of 24.65 pounds for purchase, and 24.72 pounds for sale.
In terms of major currencies, the single European currency recorded new highs during today’s trading, ranging between 26 and 28 piasters, buying and selling in Egyptian banks.
In the National Bank of Egypt and Banque Misr, the euro exchange rate recorded a level of 26.13 pounds for purchase, and 26.30 pounds for sale. At the Commercial International Bank of Egypt, the exchange rate of the euro rose to about 26.17 pounds for purchase, and 26.36 pounds for sale. While the exchange rate of the euro at the Central Bank of Egypt recorded a level of 25.93 pounds for purchase, and 26.01 pounds for sale.
The exchange rate of the pound sterling recorded total increases during today’s trading, ranging from 25 to 34 piasters, buying and selling in Egyptian banks.
In the National Bank of Egypt and Banque Misr, the exchange rate of the pound sterling recorded a level of 30.37 pounds for purchase, and 30.58 pounds for sale. The Commercial International Bank of Egypt also reached a level of 30.42 pounds for purchase, and 30.66 pounds for sale. The exchange rate of sterling at the Central Bank of Egypt rose to 30.24 pounds for purchase, and 30.34 pounds for sale.
In the Arab world, the exchange rate of the Saudi riyal at the National Bank of Egypt and Banque Misr recorded a level of 6.54 pounds for purchase, and 6.55 pounds for sale. The exchange rate of the UAE dirham also rose, to record 6.70 pounds for purchase, and 6.71 pounds for sale. The exchange rate of the Kuwaiti dinar increased to 77.64 pounds for purchase, and 80.51 pounds for sale.