The dollar continued its decline today, Thursday 16-1-2020 against the Egyptian pound in some banks operating in Egypt, including the Central Bank of Egypt recording 15.76 pounds for purchase and 15.89 pounds for sale, in the Arab Investment Bank recording 15.72 pounds for purchase, 15.82 pounds for sale, the Egyptian Gulf Bank registered 15.74 pounds for purchase, 15.84 pounds for sale.
The dollar recorded the following prices in some banks compared to morning trading:
The price of the dollar in the Egyptian Central Bank
15.76Pounds to buy for the price of 15.79 pounds in the morning, down 3 piasters.
15.89Pounds for sale, compared to 15.92 pounds in the morning, down 3 piasters.
The price of the dollar in the Arab Investment Bank
15.72 pounds for purchase
15.82 pounds for sale
The price of the dollar in the Egyptian Gulf Bank
15.74 pounds for purchase
15.84 pounds for sale
The price of the dollar in Abu Dhabi Islamic Bank
15.82 Pounds to buy for the price of 15.87 pounds in the morning, down 5 piasters
15.97 Pounds for sale, compared to 15.97 pounds in the morning, down from 5 piasters
The price of the dollar in the Arab African International Bank
15.77 pounds for purchase
15.87 pounds for sale
The price of the dollar in the National Bank of Egypt
15.80Pounds to buy.
15.90Pounds for sale.
The price of the dollar in CIB
15.77 EGP for purchase, at the price of 15.78 pounds in the morning, at a penny.
15.87 Pounds for sale, compared to 15.88 pounds in the morning, down from a penny.
The price of the dollar in the Suez Canal Bank
5.76 pounds to buy, compared to 15.78 pounds in the morning, down two piasters.
15.86 pounds for sale, compared to 15.88 in the morning, down two piasters.
The price of the dollar in Banque Misr
15.80 pounds for purchase, compared to 15.82 pounds in the morning, at two piasters
15.90 pounds for sale compared to its price in the morning 15.92 pounds, down two piasters
The price of the dollar in Banque du Caire
15.78 pounds to buy compared to its price in the morning 15.80 pounds, down two piasters.
15.88 pounds for sale, compared to 15.90 pounds in the morning, down two piasters.
The price of the dollar in Bank of Alexandria
15.78 Pounds to buy.
15.88 Pounds for sale.
The price of the dollar in Bank Audi
15.78 pounds for purchase.
15.88 pounds for sale.
Foreign currencies in Egypt’s foreign reserves consist of a basket of the main international currencies, which are the US dollar, the single European currency, the euro, the British pound, the Japanese yen, and the Chinese yuan, a percentage of which Egypt’s holdings are distributed on the basis of the exchange rates of these currencies and the extent of their stability in international markets, and they change According to a plan developed by officials of the Central Bank of Egypt.
The main function of the foreign exchange reserves at the Central Bank, with its components of gold and various international currencies, is to provide basic commodities and pay the premiums and benefits of foreign debt, and to confront economic crises, in exceptional circumstances, with resources affected by hard currency-generating sectors, such as exports, tourism and investments, Because of the turmoil, however, other sources of hard currency, such as remittances from Egyptians abroad that have reached a record level, and the stability of the Suez Canal revenues, contribute to supporting the reserve in some months..
The price of the currency is a “thermometer” the performance of the economies of countries, and when dollar flows and capital occur in hard currency, this supports the currency’s strength, and in the context of progress and improvement of Egyptian economy indicators significantly over the past period, the price of the pound against the dollar was reversed during the past months With the rise of the local currency against its American counterparts, this performance is expected to continue during the coming period, with the progress of economic indicators and the improvement of 5 basic dollar resources for Egypt.
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