The price of the dollar increased by about two piasters for buying and selling at the end of trading on Tuesday to record EGP 30.55 to buy and EGP 30.65 to sell at the Central Bank of Egypt (CBE).
The price of the U.S. currency recorded EGP 30.45 to buy and EGP 30.55 to sell in Banque Misr and the National Bank of Egypt (NBE), the two largest state-run banks in Egypt.
A report issued by the Research Institute of “Credit Suisse” indicated that the dollar in the 70s represented 80% of global reserves, while in 2022 it reached the level of only 58.8%, which is the lowest level in 20 years.
A number of banking experts explained that the central banks’ reduction of the dollar’s share as a component of their dollar reserves was an indirect result of a combination of several factors, most notably the entry of the euro as a strong competitor, in addition to the return to gold as a safe haven asset.
Currency Buy Sell
US Dollar 30.5479 30.6537
Euro 32.5397 32.6646
Pound Sterling 36.9813 37.1125
Saudi Riyal 8.1437 8.1730
Kuwaiti Dinar 99.6313 100.0154
UAE Dirham 8.3167 8.3461
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