The exchange rate of the euro, against the Egyptian pound, rose during trading on Friday in banks and exchange companies, with the global price of the dollar declining.
The price of the euro against the pound, in the Central Bank of Egypt, reached about 18.51 pounds for purchase, and 18.63 pounds for sale, compared to about 18.38 pounds for purchase in Thursday’s trading.
Al Baraka Bank offered the highest purchase price for the European currency at about 18.43 pounds for purchase, while Misr Iran Development Bank offered the highest price for sale at about 18.71 pounds for sale.
The exchange rate of the euro in the National Bank of Egypt (the largest government bank) was about 18.31 pounds for purchase and 18.66 for sale.
The Egyptian pound received strong support in the face of foreign currencies from remittances from Egyptians abroad, which kept the money market stable for a long time.
Remittances from Egyptians working abroad rose to $ 27.8 billion in the 2019-2020 fiscal year, compared to $ 25.2 billion a year ago, according to data from the Central Bank of Egypt.
Despite the repercussions of the Coronavirus outbreak on the Egyptian economy, Egypt remains the most active market in emerging companies’ investments in the Middle East and North Africa in the first half of 2020.
It acquired the largest number of deals in the region, accounting for 25% of total deals, according to the 2019 report issued by the startup platform Magnet on venture capital in the Middle East and North Africa region.
The price of the dollar and sterling
The price of the dollar fell in the Central Bank of Egypt, to about 15.637 pounds for purchase, and about 15.737 pounds for sale.
While the price of the sterling increased, on Friday, to about 20.47 pounds for purchase, and about 20.59 pounds for sale, compared to about 20.44 pounds for purchase, and about 20.57 pounds for sale.
Real, dirham and dinar
The price of the Saudi riyal fell against the Egyptian pound, to 4.169 pounds for purchase, and 4.196 pounds for sale, as for the Emirati dirham, about 4.256 pounds for purchase, and 4.284 pounds for sale.
While the Kuwaiti dinar exchange rate was recorded to about 51.12 pounds for purchase, and about 51.52 pounds for sale, on the screens of the Central Bank of Egypt.
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