"Currency Update" on Saturday Dollar, Saudi Riyal and Euro in Banks and Black Market … in the morning

Follow us daily Exchange rate today In Egypt, Banks and the parallel market and the prices of the US dollar, the euro and the Saudi Arabian riyal, we present daily the discounted exchange rates of banks, as well as the black market, in addition to the effects that affect the prices of currencies on the rise and the reasons for the activity or the decline of the black market.

The exchange rate of the Egyptian pound against the currencies has clearly stabilized against the price of about two years ago, with the stability of the currency exchange in the short term and at the end of the year. the gradual decline in prices over the medium term, while analysts see the rise in the pound against all currencies in the long run.

Price of the dollar and the currency in Egypt

• Dollar rate in banks: The exchange rate of the dollar against the Egyptian pound has stabilized today in banks on its average price on the Egyptian market in more than a month.
• Euro rates in banks: The euro rose in trade last month, under the effect of rising prices on international currencies and the gradual decline of Egyptian banks, registering a average purchase price of 21.10 pounds and an average sale of 20.40 pounds.
• Saudi Riyal Price in Banks: The stability of the exchange rate of the Saudi Arabian currency in Egyptian banks for the second consecutive month has been maintained according to the same average prices after the end of the period of the pilgrimage.

Exchange rate today in Egyptian banks against the pound sterling

Factors Influencing Bank Exchange Rates

• The US dollar is affected by the increase in cash reserves of Egyptian banks due to the green currency, low inflation and the improvement of the indicators of the Egyptian economy, which have gradually declined in the medium term until reaching the right long-term levels of 14 and 11 years.
• The euro is influenced by Egyptian banks at the global price of the European currency against the dollar. When the greenback withdraws, the European currency is increasing in the currency market and on Egyptian banks.
• The Saudi Riyal is subject to the law of supply and demand and the important reserves of the banks from the Saudi currency. While traders resort to the black market in the absence of riyal banks, which leads to recovery.

Currencies on the black market

The price of currencies on the black market is linked to the law of supply and demand: since the decision to liberalize the exchange rate of the pound against currencies for about two years and circulation in the market black is not preferred to traders, like the black market exchange rates compared to the official price, Banks.

• Average price of the dollar on the black market buy 17.88 pounds and sell 17.75 pounds.
• The average price of Saudi riyals on the black market is 4.80 pounds and sells for 4.75 pounds.
• Average price of the euro on the black market buy 20.60 pounds and sell 20.90 pounds.

Black market prices are approximate, vary from one location to another depending on supply and demand, and the black market is shrinking and suffering in recent years due to the improved exchange rate of the market. dollar against currencies.

Update

The price of the euro depends on the Egyptian banks the overall price of the European currency on international currencies, after the withdrawal of the Egyptian pound in 2011.

The Saudi currency remained stable for nearly a month in order to stabilize the currency market in the Egyptian market, as well as the drop in demand after the end of the Haj campaign and the increase in the cash reserve of the riyal, which led to a further decline due to the strength of the pound against the riyal.

The price of the dollar depends on the Egyptian market for supply and demand and has fluctuated a lot since 2011 and has stabilized on the same average price in 2018, in the last six months.