Arab, foreign currencies record jump against Egyptian pound

Arab and foreign currencies have soared against the Egyptian pound on Tuesday following a decision adopted by Egypt’s central bank to partially devalue the currency in a special foreign currency auction.

According to Egypt’s biggest state bank, National Bank of Egypt, th US dollar has recorded 8.9 Egyptian pounds for purchase and 8.95 pounds for sale; while euro hiked to 9.90 pounds for purchase and 10 pounds for sale.

Kuwaiti dinar has also climbed at early trade to 29.49 pounds for purchase and 29.76 pounds for sale.

The table below demonstrates the exchange rates of a number of key Arab and foreign currencies against the Egyptian pound early Monday according to the National Bank of Egypt: