The price of the dollar in Egypt today, Thursday, February 4, 2021

The exchange rate of the dollar against the Egyptian pound stabilized today, Thursday, February 4, 2021, at banks, currency exchange companies and ATMs.

Egypt’s foreign exchange reserves continued to climb for the eighth month, after being affected by the impact of Corona for a period of 3 months.

The increase in Egypt’s currency reserves supported the strength of the local currency against the Green Paper, and also contributed to the stability of the money market and the absence of a parallel market.

The average dollar exchange rate on the Central Bank of Egypt website today, Thursday, has stabilized at around 15.67 pounds buying and 15.77 pounds selling.

The dollar stabilizes

According to an Al-Ain News survey of prices in 29 banks, the average dollar price in Egypt stabilized today, Thursday, in banks at 15.67 pounds to buy and 15.78 pounds. books for sale.

Money supply in Egypt increased 1.5% in January compared to last December.

The highest dollar rate

The dollar to pound exchange rate recorded the highest price at £ 15.68 buy and £ 15.78 sell at 19 banks, including Abu Dhabi Islamic Bank, Egyptian Arab Real Estate, National Kuwait, Emirates NBD, Al Mashreq, Al Ahli Kuwaiti, Egyptian Gulf, construction and housing.

The dollar price at the National Bank of Egypt (the largest government bank) held steady at around £ 15.66 buy and £ 15.76 sell, the lowest dollar price recorded today. ‘hui, Thursday, in 4 other banks.

Foreign reserves

On Wednesday, the Central Bank of Egypt announced that the country’s foreign exchange reserves stood at $ 40.101 billion in January.

Egypt’s foreign exchange reserves were, at the end of December last year, around $ 40.063 billion, according to Reuters.

Egypt’s foreign exchange reserves have started a rally since June, after falling from March to May from a record high of $ 45 billion, in light of the economic fallout from the coronavirus outbreak.

Euro and British Pound Rates

The average euro exchange rate fell on the Central Bank’s website today, Thursday, to around 18.82 pounds for buying and 18.94 pounds for selling, from around 18.87 books for purchase and 18.99 books for sale yesterday, Wednesday.

While the average pound sterling exchange rate has declined to around £ 21.35 buying and £ 21.49 selling, compared to around £ 21.42 buying and £ 21.56 selling .

Real rate, dinar and dirham

The average exchange rate for the Saudi riyal at the Central Bank of Egypt today, Thursday, stood at around 4.17 pounds to buy, and 4.20 pounds to sell.

While the average UAE dirham remained at 4.26 pounds buying and 4.29 pounds selling.

While the average Kuwaiti dinar marked 51.69 pounds for buying, 52.10 pounds for selling, compared to 51.67 pounds for buying and 52.13 pounds for selling.

Workers’ remittances abroad

Remittances from Egyptians working abroad saw a remarkable increase in 2020, representing strong support for the Egyptian pound against the dollar.

And on Monday, the Central Bank of Egypt announced that the country had received $ 27.1 billion in remittances from Egyptians working abroad in the first 11 months of 2020, an increase of about 11.9% compared to the same period in 2019.

The increase in Egyptian currency transfers is expected to contribute to the rise of the Egyptian pound against the dollar.

The foreign exchange market in Egypt is in a stable state despite the Corona pandemic, in view of the improvement in economic indicators and the success of the reform plan implemented by the government since 2016.