Dollar Rises To EGP 6.78; While Euro Downs To EGP 8.977

The US dollar’s price rose on Wednesday against the Egyptian pound to EGP 6.7504 (buy price) and EGP 6.7805 (sell price), compared to Tuesday’s levels of EGP 6.7441 (buy price) and EGP 6.7742 (sell price).

The US currency’s rise coincided with Egyptian Central Bank’s 30^th FX auction on Wednesday worth US$40 million to local banks.

The exchange rates of the Saudi riyal, Kuwaiti dinar and UAE dirham have also surged against the Egyptian currency. The Saudi riyal’s price hit on Wednesday EGP 1.7949 (buy price) and EGP 1.8131 (sell price), compared to Tuesday’s EGP 1.7932 (buy price) and EGP 1.8114 (sell price).

The Kuwaiti dinar’s price reached EGP 23.6101 (buy price) and EGP 24.2642 (sell price), compared to EGP 23.5989 (buy price) and EGP 24.2783 (sell price).

For the UAE currency, the dirham have recorded EGP 1.8363 (buy price) and EGP 1.8812 (sell price), compared to EGP 1.8346 (buy price) and EGP 1.8795 (sell price).

On the contrary, the exchange rates of the euro, pound sterling, Swiss franc, and yen have dropped against the Egyptian pound.

The EU euro have reached EGP 8.7645 (buy price) and EGP 8.9779 (sell price), compared to EGP 8.7738 (buy price) and EGP 8.986 (sell price).  The pound sterling hit EGP 10.1362 (buy price) and EGP 10.3828 (sell price), compared to EGP 10.1967 (buy price) and EGP 10.4446 (sell price).

For the Swiss franc, it has recorded EGP 7.098 (buy price) and EGP 7.2688 (sell price), compared to EGP 7.1307 (buy price) and EGP 7.3015 (sell price).  The yen (¥ 100) also fell to EGP 7.1992 (buy price) and EGP 7.3715 (sell price), compared to EGP 7.2226 (buy price) and EGP 7.3939 (sell price).

The table below shows the exchange rates of the Arab and foreign currencies against the Egyptian pound on Wednesday according to the National Bank of Egypt (NBE):