The price of the dollar against the Egyptian pound stabilized during today’s trading, Saturday, March 20, 2021, in exchange companies and ATMs.
Friday and Saturday are official holidays in Egyptian banks.
The price of the Egyptian pound also stabilized against the Saudi riyal, the Emirati dirham, the European euro, and the British pound.
The price of the dollar in Egypt
The average price of the dollar in the Central Bank of Egypt stabilized at 15.65 pounds for purchase and 15.75 pounds for sale.
In the National Bank of Egypt (the largest government bank), the dollar remained at 15.63 pounds for purchase and 15.73 pounds for sale.
The same price was repeated in Banque Misr (the second largest state bank).
In the Commercial International Bank (the largest private bank in Egypt) the dollar settled at 15.65 pounds for purchase and 15.75 pounds for sale.
Stable interest and fixed rating
And last Thursday, the Central Bank of Egypt fixed interest rates, to remain in Egyptian banks as they are for the fifth month.
The Monetary Policy Committee of the Egyptian central bank kept the overnight lending rate at 9.25%, and the overnight deposit rate at 8.25%, for the third time in a row, which are their lowest levels since July 2014, after the price cuts in September and November last.
With this decision, the interest rates in Egyptian banks will remain the same for the fifth month.
Fitch, the international credit rating agency, confirmed the performance of the Egyptian economy over a large number of economies classified by the agency during the past year.
The agency confirmed the long-term rating of Egypt’s ability to pay off debts in foreign currency at (B +), with a “stable outlook.”
It expected Egypt to record real GDP growth of 3% by the end of the fiscal year in June 2021.
Egypt’s foreign exchange reserves continued their upward journey for the ninth month, after being affected by the repercussions of the new Corona virus for a period of 3 months.
The Central Bank of Egypt data showed an increase in net foreign reserves to 40.201 billion dollars during the month of February.
Euro and British Pound rates
The euro settled at the Central Bank of Egypt, at 18.67 pounds for purchase and 18.79 pounds for sale.
The average price of the pound sterling remained at 21.81 pounds for purchase and 21.95 pounds for sale.
Real, dirham and dinar prices
The average price of the Saudi riyal, with the Central Bank of Egypt, settled at 4.17 pounds for purchase, and 4.20 pounds for sale.
The average price of the Emirati dirham remained at 4.26 pounds for purchase and 4.28 pounds for sale.
The average price of the Kuwaiti dinar with the Central Bank was 51.76 pounds for purchase and 52.23 pounds for sale.