Euro Picks Up Against Egyptian Pound

The price of the euro rose on Wednesday against the Egyptian pound in major banks compared to yesterday's trading.

The European currency recorded EGP 18.13 to buy, and EGP 18.29 pounds to sell, compared to its price yesterday at EGP 18.04 to buy, EGP 18.18 to sell.

Meantime, the price of the euro in the Central Bank of Egypt (CBE) recorded EGP 18.20 to buy and EGP 18.32 to sell.

National Bank of Egypt (NBE)

EGP 18.13 to buy, and EGP 18.29 to sell.

Banque Misr

EGP 18.13 to buy, and EGP 18.33 to sell.

Al Baraka Bank

EGP 17.92 to buy, and EGP 18.21 to sell.

Commercial International Bank (CIB)

EGP 18.10 to buy, and EGP 18.30 to sell.

Abu Dhabi Islamic Bank (ADIB)

EGP 18.13 to buy, and EGP 18.29 to sell.

Bank of Alexandria

EGP 18.08 to buy, and EGP 18.26 to sell.

The European Central Bank(ECB) recently announced in an annual evaluation of the euro that the currency accounted for 20.5 % of global foreign exchange reserves at the end of last year, up from 20.3% a year ago, while its share of existing international debt securities fell to 22.1% from 22.4%.

As for international deposits outside the EU, the euro’s role remained largely unchanged, while its share in the existing international loans increased by one percentage point.

The euro is the single currency of the European Union, which after the US dollar is the second most important currency at the level of the international monetary system.

Today, the euro is the official currency in 19 of the twenty-eight European Union countries, and it is the official currency of six other countries that are not members of the EU.

Egyptian Pound Exchange Rate