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Egyptian book
– Investing.com The prices of the Arab currencies have fallen against the pound sterling in Egyptian banks, along with the decline of the US dollar during the recent period, where the dollar's exchange rate from early March, a a decline of 23 cents against the Egyptian pound, led to a fall in the prices of the Arab currencies during the same period.
According to data from the central bank, the Saudi Arabian riyal fell by 1.304% against the Egyptian pound since the beginning of January, reaching 4.59 LE for purchases and 4.63 EGP for sale, against 4, 66 EGP for purchases and 4.68 EGP for sale. 7 piastres.
The Kuwaiti dinar fell against the Egyptian pound, registering EGP 56.81 for the purchase and EGP 57.16 for the sale, compared with EGP 57.59 for the purchase and EGP 57.94 for the sale. , falling 1.35% from 78 piastres.
The United Arab Emirates dirham also depreciated by 1.33% against the Egyptian pound, rising from EGP 4.69 to 4.72 EGP on sale, compared to EGP 4.76 in China. purchase against 4.79 EGP for sale, losing 6 piastres.
Analysts and financial experts attributed the decline in Arab currencies against the Egyptian pound to the impact of the dollar's decline in Egyptian banks, as well as to the downturn globally.
According to economist analyst Eman Najem, the Arab currencies will experience a series of declines from the Egyptian pound this year due to the rise of the pound in the domestic market, following comments by the governor of the central bank , Tariq Amer. Movement after the end of the fund transfer mechanism of foreign investors, in addition to the decline of the US dollar globally compared to the six major currencies.
The world leader, which measures the performance of the currency against 6 major currencies, has increased since the beginning of the month, but has decreased since March 7 of 1.2%.
The US dollar fell against the Egyptian pound since the beginning of the month at 1.32%, up to 17.24 pounds at the time of purchase and 17.35 pounds on sale, compared to 17.74 pounds books for purchase and 17.58 books for sale.
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