Dollar and Euro declined amid quiet trading at exchange companies

Exchange companies’ transactions witnessed during the last week a decline in the Dollar exchange rate of about half piaster to reach 6.0275 EGP for purchasing and 6.0450 EGP for selling.

Euro exchange rate also decreased by about 10 piaster to reach 8 EGP for purchasing, and 8.10 EGP for selling amid quiet trading and a significant reduction in demand for the dollar.

Yousef Farouk -An official at an exchange company – said that the average daily trading reached about 4 million EGP, pointing out that the last week witnessed a large reduction in the volume of demand for the dollar, as a result of the interest of companies to provide the salaries and the needs of the end of the month, as this fall in trading is usually happening by the last week of each month.

Emad Jamal al-Din – an exchange company official –said  that the most prominent of what was witnessed this week is the fluctuation in the prices of the Euro, as it recorded a big increase by the beginning of the week after the adoption of the second batch’s statement of saving Greece to record an increase of about 28 pounds over the last two weeks, but by the end of the week the Euro experienced a decline, which is a normal matter, because it always goes up with any positive news in the euro zone, and after absorbing this news the prices declines again to wait for another news that makes the Euro either to rise or decline more.

Regarding the other currencies’ rates, the Pound Sterling increased to record 9.55 EGP for purchasing and 9.68 EGP for selling, and the Swiss franc fell of 6 PTs to record 6.60 pounds, while the Australian dollar recorded 6.43 EGP, as well as the Canadian dollar recorded 6.06 EGP.

For the price of Arab currencies, the Saudi Riyal recorded 1.6025 EGP for Purchasing and 1.6150 EGP for selling, as the it was slightly declined because of the decline in the Dollar, and the Riyal trading was also reduced during the last few days, due to the diminish in Omrah seasons in these days, while the Kuwaiti Dinar recorded 21.45 EGP, and the UAE dirham also recorded 1.6350 EGP, while the Qatari riyal recorded 1.6450 EGP, the price of Omani Riyal recorded  15.45 EGP and  8.36 EGP for the Jordanian dinar and the Bahraini dinar recorded 15.82 pounds.