US Dollar To Rise Against Egyptian Pound On Sinai Attack: Experts

The exchange rate of the US dollar has witnessed on Monday a slight rise against the Egyptian pound recording EGP 6.08 (sell price) and EGP 6.07 (buy price).

Belal Khalil, deputy head of the exchange division of the Federation of Egyptian Chambers of Commerce (GFCC), forecasted that Sinai attacks, in which 16 Egyptian soldiers were  killed and 7 injured, will reversely affect the exchange rate of the US dollar within the coming few days.

On the other hand, Khalil mentioned that the exchange rate of the Saudi Riyal has not posted a considerable rise within the last few days which coincide with “the season of Ramadan’s Umrah”.

He added that the exchange rate of the Saudi Riyal recorded Monday around EGP 1.61 (buy price) and EGP 1.62 (sell price) noting that “Riyal witnesses a weak demand nowadays.”

Monday’s currencies exchange rates to Egyptian Pound