Foreign Currencies Vs Egypt Pound – Early Monday

The table below shows the exchange rates of the Arab and foreign currencies against the Egyptian pound on early Monday:

Currency

Buying Price

Selling Price

US Dollar (USD)

7.1502

7.1803

Euro (EUR)

9.7482

9.807899

Pound Sterling (GBP)

12.0041

12.0783

Swiss Franc (CHF)

7.9938

8.0446

Yen (¥100)

6.9612

7.0089

Kuwaiti Dinar (KWD)

25.3227

25.4392

Saudi Riyal (SAR)

1.904

1.914

UAE Dirham (AED)

1.9442

1.9524

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EGP nudges up vs USD onThursday

The Central Bank of Egypt (CBE) reported the average closing exchange rates for the US dollar (USD) against the Egyptian pound (EGP) on Thursday, January 09, 2025.

According to the CBE’s website, the USD buying rate stood at EGP 50.52, while the selling rate was EGP 50.62 per dollar, compared to EGP 50.55 for buying and EGP 50.65 for selling on Wednesday, January 08, 2025.

Attribution: Amwal Al Ghad English

Egypt’s gold prices up in Thursday mid day trade

Egypt’s gold prices surged on Thursday, January 09, 2025, as of 14:15pm CLT (12:15GMT), compared to prices recorded on January 08, 2025, according to an electronic gold price platform.

Metal January 9th (EGP) January 8th (EGP) Change %
24 Carat 4,308.50 4,285.75 0.53
21 Carat 3,770.00 3,750.00 0.53
18 Carat 3,231.50 3,214.25 0.54
14 Carat 2,513.25 2,500.00 0.53
Gold Pound 30,160.00 30,000.00 0.53

 

It’s important to note that gold prices may fluctuate throughout the day. This information reflects the pricing data as of a specific time.

(1 United States dollar = 50.64 Egyptian pounds)

Attribution: Amwal Al Ghad English

Egypt c.bank pulls EGP1.145t from market in OMO auction

The Central Bank of Egypt (CBE) withdrew on Wednesday 1.145 trillion Egyptian pounds from the market through an open market operation (OMO) auction, aiming to manage liquidity and influence interest rates within the banking system.

The auction saw participation from 27 banks, with bids accepted at an interest rate of 27.75 percent, reflecting recent adjustments in the central bank’s bid acceptance policies.

As part of its ongoing efforts to refine its monetary policy framework, the CBE revamped its OMO mechanism earlier this year. Since April 23, the bank has adopted a full allotment system, allowing all eligible banks to participate in weekly auctions. This shift from the previous allocation-based system offers increased flexibility and efficiency in managing market liquidity.

Attribution: Amwal Al Ghad English

Egypt’s gold slightly down on Wednesday

Egypt’s gold prices declined on Wednesday, January 08, 2025, as of 14:35 pm CLT (12:35 GMT), compared to prices recorded on January 07, 2025, according to an electronic gold price platform.

Metal January 8th (EGP) January 7th (EGP) Change %
24 Carat 4,285.75 4,291.50 -0.13
21 Carat 3,750.00 3,755.00 -0.13
18 Carat 3,214.25 3,218.50 -0.13
14 Carat 2,500.00 2,503.25 -0.13
Gold Pound 30,000.00 30,040.00 -0.13

 

It’s important to note that gold prices may fluctuate throughout the day. This information reflects the pricing data as of a specific time.

(1 United States dollar = 50.70 Egyptian pounds)

Attribution: Amwal Al Ghad English

Egypt’s gold reserves hit $10.644b in Dec – CBE

Egypt’s gold reserves, an important component of its international reserves, totaled $10.644 billion in December, a slight decrease from $10.777 billion in November, according to the latest data from the Central Bank of Egypt (CBE).

In contrast, the value of foreign currencies within the reserves experienced a modest increase, reaching $36.436 billion in December, compared to $36.140 billion in November. This represents a monthly growth of approximately 0.82 per cent.

Despite the decrease in gold reserves, Egypt’s overall net foreign exchange reserves rose to $47.109 billion by the end of December, up from $46.952 billion at the end of November, reflecting a modest growth of 0.33 per cent.

Attribution: Amwal Al Ghad English