Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

USD/EGP Exchange Rate Records 29.84 by End of Trading

Tue 24 Jan 2023 | 07:58 PM
Taarek Refaat

The average price of the dollar increased by two piasters, against the Egyptian pound, in banks operating in the official exchange market, at the close of trading on Tuesday.

The US dollar recorded EGP 29.85 to buy and EGP 29.94 to sell, up from EGP 29.83 and EGP 29.92, respectively, at the beginning of trading.

The price of the dollar recorded EGP 29.86 to buy and EGP 29.94 to sell in a number of banks operating in the market, namely: Credit Agricole, Bloom, Suez Canal, The United Bank, Mashreq, National Kuwait, Export Development Bank of Egypt, Abu Dhabi Commercial, Commercial International Bank (CIB) , Emirates NBD, Arab International Bank (AIB), Alexandria and Ahli United Bank.

Moreover, the price of the dollar stabilized at EGP 29.74 and EGP 29.84 to sell at the National Bank of Egypt (NBE) and Banque Misr, who announced, this morning, stopping the annual certificate with a return of 22.5% and 25% by the end of this month, after they collected an estimated proceeds of about EGP 400 billion since they offered the certificates in January 4.

It is noteworthy that the Central Bank of Egypt (CBE) decided to suspend work in all banks operating in Egypt on Thursday, corresponding to January 26, on the occasion of the Police Day, provided that work will resume on Sunday morning.