The US ⁣dollar’s value against the Egyptian pound experienced some movement in⁢ late December 2024. While precise figures vary slightly depending on the source, the exchange ‌rate hovered around 50 Egyptian pounds (EGP)‍ per⁣ 1 US dollar (USD) ⁢on December 28th. This represents a relatively stable period compared to⁤ recent volatility seen in other currency markets. For those⁣ planning trips to Egypt​ or involved⁤ in international finance, understanding these fluctuations is crucial.

several‌ online currency converters ‍showed‍ a range of values. One source reported a⁢ high ⁣of 51.0769 EGP per USD adn a low of 49.5928 EGP per USD over the‌ past 90 days. [[1]] Another source indicated ‍a rate of 50.79 EGP per USD on December 28th,representing ⁣a ⁢slight decrease from the previous ‌day. [[2]] these ‌minor​ discrepancies highlight the dynamic⁤ nature of currency exchange and the importance of checking multiple sources ⁢for the most up-to-date information.

Understanding the Fluctuations

The exchange rate between the ⁤USD and EGP,like all currency pairs,is influenced by‌ a⁢ multitude of factors. These include global economic conditions, political⁤ stability ‍in ⁤both⁣ the US and Egypt,​ and the overall supply and demand for each currency in the ‍international⁢ market. While a​ slight‌ daily fluctuation might‌ not seem significant, ⁣these changes can accumulate over‌ time ⁣and ⁣impact​ various sectors, from tourism ⁤to international trade.

For US citizens planning ‍travel to Egypt,⁢ understanding‌ the current exchange rate is essential for budgeting and managing expenses. Similarly, ‍businesses engaged‍ in ⁣trade with Egypt need‍ to monitor these ⁤fluctuations to accurately forecast‍ costs and profits. ‌Staying informed about ⁤these changes can help individuals​ and businesses make informed financial decisions.

Were to Find Reliable Exchange Rate Information

Reliable sources for up-to-the-minute exchange rates include reputable online converters like Wise and specialized financial news websites. It’s always ⁢advisable to compare rates from multiple sources before making any significant‍ financial transactions involving currency exchange.

While the information ‍provided gives a‌ snapshot of the USD/EGP exchange rate ⁣on December 28, 2024, remember that these rates are constantly changing.Always consult a reliable source‍ for⁤ the most current⁣ information before making any ​financial decisions.

Egyptian Pound Under Pressure: Dollar Exchange rates and Global Factors

The Egyptian⁢ pound continues to experience volatility against the US dollar, with significant implications for the egyptian economy.Major banks‌ across Egypt are ‌reporting‌ consistent exchange rates, offering a snapshot of the current market conditions.

Current Dollar Exchange Rates ​in Egypt

As of⁤ today, several leading ⁤Egyptian banks are reporting the following exchange rates:

• Bank of Egypt: ⁢ purchasing the dollar at 50.82 Egyptian pounds, selling‌ at 50.92 Egyptian ​pounds.
• Bank of ‍Alexandria: ‍ Purchasing the‍ dollar at 50.82 ‍Egyptian pounds, selling⁢ at ‌50.92 Egyptian ‍pounds.
• Commercial International Bank ⁣(CIB): Purchasing the dollar at‍ 50.82 Egyptian pounds, ⁢selling at 50.92 Egyptian pounds.
• Bank of Cairo: ‌Purchasing the dollar at ⁢50.82⁤ Egyptian pounds, selling at 50.92 Egyptian pounds.

Factors Influencing⁣ the⁣ Dollar’s Value in⁢ Egypt

The fluctuating ‌value of‌ the ⁤dollar against⁤ the Egyptian ⁣pound is a complex issue influenced by a‌ multitude of global and domestic factors. “The price of the​ dollar is affected by a number of‍ global⁢ events,including global geopolitical and​ economic events that⁣ greatly affect exchange rates,such as wars,economic crises,and oil price⁤ changes,” explains a financial analyst.These global uncertainties ‍create⁣ ripple effects across international markets, impacting⁤ currency values.

Furthermore,‍ US monetary​ policy plays a ⁤crucial⁢ role. Decisions by the Federal Reserve, such as ‌raising or lowering ⁣interest⁣ rates, directly impact the‍ dollar’s strength.”The exchange⁤ rates ⁣of the​ dollar ⁣are affected by ​the monetary policies followed by⁤ central banks in the United States,⁢ such as raising or lowering‌ interest rates,” notes the analyst. Additionally, the ‌basic⁢ principles of supply and demand are at play. ‍ Increased demand for dollars,often​ driven by imports,pushes the value ‌up,while increased supply,typically⁣ from⁣ exports,can have the opposite ‍effect.

For US readers, ​understanding ⁢these fluctuations is importent because ​they can affect the cost of goods imported from Egypt and the value of any investments ‍held in Egyptian pounds.The interconnectedness of the global economy means⁤ that ‍events halfway across the world can have⁤ a direct impact⁣ on your wallet.