390 USD = 12,031.50 EGP. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. A positive trend is expected with possible volatility of 0.13%. All quotes delayed a minimum of 15 minutes. 40 USD = 1,234.00 EGP41 USD = 1,264.85 EGP. 640 USD = 19,744.00 EGP. 63 USD = 1,943.55 EGP. 9200 USD = 283,820.00 EGP. Africa Intelligence uses cookies to provide reliable and secure features, measure and analyse website traffic and provide support to the website users.Apart from those essential for the proper operation of the website, you can choose which cookies you accept to have stored on your device.Either Accept and close to agree to all cookies or go to Manage cookies to review your options. 2700 USD = 83,295.00 EGP. Any usage of materials must be accompanied by a reference to the source. show you personalized advertising. The US dollar/Egyptian pound rate spiked above 19 on 2 August and has stayed at that level since. US Dollar 30.8380 30.9357 . Comparative assessments and other editorial opinions are those of U.S. News Apr 17, 2023, 01:35 UTC - Apr 17, 2023, 01:35 UTC EGP/USD close: 0 low: 0 high: 0. 130 USD = 4,010.50 EGP. Egyptian Pound to US Dollar. Xe Rate Alerts. 8900 USD = 274,565.00 EGP. The banks have already raised the interest rate on US dollar saving certificates by 100% to 5%, from 2.50% earlier. Need to know when a currency hits a specific rate? 4800 USD = 148,080.00 EGP. Memos - premium analytical writing: actionable insights on markets and geopolitics. In addition to exchanging currency, importers also need to deposit the money into their dollar bank accounts. CAIRO, Nov 1 (Reuters) - The gap between the official and black market price of dollars in Egypt has narrowed significantly since the central bank announced a flexible exchange rate policy,. You wont receive this rate when sending money. 2200 USD = 67,870.00 EGP. We use cookies to improve your experience on our site and to The pound was devalued 14.5% against the dollar on Oct. 27. 9600 USD = 296,160.00 EGP. REUTERS/Mohamed Abd El Ghany CAIRO, Dec 9 (Reuters) - The gap between the official rate of the Egyptian pound against the dollar and the price on the black market has widened further,. 14600 USD = 450,410.00 EGP. 5300 USD = 163,505.00 EGP. For how long is the devaluation of the pound expected to continue? 8800 USD = 271,480.00 EGP. Get current currency exchange rates of Syrian Pound and Currency Converter to/from SYP Copper and copper miners are the lifeblood of a 21st-century economy. Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.Delivered straight to your inbox. In a call with investors on Monday, Egypt's central bank governor and deputy governor said the bank was committed to a flexible exchange rate and would continue on this path, according to two people who took part in the call. 12400 USD = 382,540.00 EGP. 970 USD = 29,924.50 EGP. Egypt's Black Market Blues. 5500 USD = 169,675.00 EGP. - Photo: Shutterstock, Viktorya Fivko. 11000 USD = 339,350.00 EGP11100 USD = 342,435.00 EGP. 83 USD = 2,560.55 EGP. Market. This is for informational purposes only. 330 USD = 10,180.50 EGP. As part of the Transforming Egypt seminar series organized by the School of Business, Bassiouny will moderate a panel discussion titled EGP Devaluation and FX Scarcity in Egypt on Thursday, March 10. 12 USD = 370.20 EGP. 590 USD = 18,201.50 EGP. Do you think an economic plan should be put in place in order to save the value of the Egyptian pound? Fuel. 9500 USD = 293,075.00 EGP. Historically, Egypt witnessed periods of severe shortage of foreign currencies, most notably in 1947 after its exit from the sterling area, and following the tripartite aggression against Egypt in 1956 and the freezing of foreign currency balances for Egypt abroad, and the need to finance its industrial and . 350 USD = 10,797.50 EGP. Disclaimer search Compare to EUR / EGP 33.9555 EUR0.078% JPY / EGP 0.2319 JPY0.12% GBP / EGP 38.5829. He also delivers U.S. dollars stashed in plastic bags . 77 USD = 2,375.45 EGP. 600 USD = 18,510.00 EGP610 USD = 18,818.50 EGP. 470 USD = 14,499.50 EGP. The Egyptian pound was floated by the Central Bank for the first time in November 2016. Egypt has struggled to narrow the gap between the pounds black-market and official rates even after the currencys third devaluation since March. 770 USD = 23,754.50 EGP. 3200 USD = 98,720.00 EGP. This service is completely free of charge. USD-EGP FORECAST 2023, 2024 - 2027 In Arabic. A foreign exchange shortage in Egypt is badly affecting companies engaged in foreign trade. After the CBE governor increased the monthly dollar deposit cap to $250,000 with no daily limit, they can deposit and transfer immediately. The Egyptian pound and US dollar banknotes are seen in this photo taken on Aug. 25, 2022. For this particular reason, the black market has flourished, since importers can exchange and transfer foreign currency without strict bank restrictions. 20 USD = 617.00 EGP21 USD = 647.85 EGP. | Dec. 09 . 13700 USD = 422,645.00 EGP. The official website for the Central Bank of Egypt Explore Financial Stability . 29 USD = 894.65 EGP. Dollar to Chilean Peso forecast on Wednesday, May, 3: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 14700 USD = 453,495.00 EGP. 290 USD = 8,946.50 EGP. 11500 USD = 354,775.00 EGP. USD to EGP forecast on Thursday, May, 4: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 700 USD = 21,595.00 EGP710 USD = 21,903.50 EGP. All rights reserved. 73 USD = 2,252.05 EGP. Three ways to create your email notifications: Do not hesitate to create your own notifications according to your interests : better criteria narrows down the results. CAIRO, March 28 (Reuters) - The Egyptian pound lost ground on the black market again in recent days in a sign that halving its official value over the past year could still not be enough. The central bank has said the rule will be gradually phased out by December. Alphabet's share classes, GOOG and GOOGL, are all about voting power. 9300 USD = 286,905.00 EGP. 76 USD = 2,344.60 EGP. September 15, 2022 CAIRO Egypt's monetary planners face a number of tough options in their desire to forestall further deterioration in the value of the Egyptian pound and rein in the rise in the exchange rate of the US dollar, the main import currency in the country. USD to EGP forecast on Friday, April, 28: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. Egypt's black market in US dollars appeared to screech to a halt Wednesday, as traders struggled to compete with a plunge of as much as 14% in the official rate for the local currency. That's the highest since Bloomberg started the weekly surveys on May 21. Dollar Watch list Last Updated: Mar 17, 2023 1:47 p.m. EDT $ 0.032467 0.000004 0.01% Previous Close $0.032463 Advanced Charting 0.032368 Day Range. In 4 weeks USD to EGP forecast on Tuesday, May, 16: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. Egypts black market in US dollars appeared to screech to a halt Wednesday, as traders struggled to compete with a plunge of as much as 14% in the official rate for the local currency. Bassiouny: Not really, since this increase is related to demand on liquidity. Check live rates, send money securely, set rate alerts, receive notifications and more. 64 USD = 1,974.40 EGP. Us Dollar is available today at 23 Egyptian bank. Updated 2 hours ago. Therefore, when there is an increase in demand of the dollar, this increases the price, since everyone is competing over a limited supply of the currency. While the USDLBP spot exchange rate is quoted and exchanged in the same day, the USDLBP forward rate is If you choose to Reject all, we will not use cookies for these additional purposes. Keep your portfolio safe in 2023 with these 10 blue-chip bargains. Live tracking and notifications + flexible delivery and payment options. it also depends on the amount of money you have for exchange. 450 USD = 13,882.50 EGP. 3400 USD = 104,890.00 EGP. As the yawning gap between the official and parallel market rates for Egypts pound dwindled by early afternoon in Cairo, a number of traders said they were pausing operations and waiting until the end of the day to assess the situation. The embattled currency has fallen by a cumulative 51 per cent against the dollar since March. In a working-class suburb of the Egyptian capital, Kamal sells suitcases and handbags out of a small shop. "The increase of the dollar's exchange rate against the local currency caused stagnation in the sales and made the clients reluctant to conclude any deal," he added. 690 USD = 21,286.50 EGP. Data-driven analysis of latest market trends. This is a reason for the hike in black market activity. 13400 USD = 413,390.00 EGP. 7000 USD = 215,950.00 EGP7100 USD = 219,035.00 EGP. 88 USD = 2,714.80 EGP. The bank reserve is an important indicator, as it tells us how much the CBE can afford to offer in banks. All premium Industry Newsletters - Monitor the Middle East's most important industries. Dollar to Chilean Peso forecast on Thursday, April, 27: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. Major disruption in Egypt's wheat processing sector continues as the country awaits an IMF loan due next month. 990 USD = 30,541.50 EGP. 93 USD = 2,869.05 EGP. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. 6200 USD = 191,270.00 EGP. The dollar is selling for 7.57 pounds in unregulated trading, an 8.3 percent premium over the official price, according to the average of three quotes from dealers in Cairo, who asked not to be identified because the trade is illegal. 370 USD = 11,414.50 EGP. 550 USD = 16,967.50 EGP. 74 USD = 2,282.90 EGP. 10800 USD = 333,180.00 EGP. "Leaving the exchange rate to be decided by the supply and demand mechanism will eradicate the black market that poses dangers to the economy.". Bloomberg Surveillance, covering the latest news in finance, economics and investments. Aliaa Bassiouny, assistant professor of financeand interimchair of the Department of Management, and Tarek Selim, professor and chair of the Department of Economics, explain the recent increase of the dollar. 13900 USD = 428,815.00 EGP. The Central Bank also decised to raise the interest rate by 300 basis points, or 3 percent. 7700 USD = 237,545.00 EGP. 79 USD = 2,437.15 EGP. 33 USD = 1,018.05 EGP. Thus, banks are only accepting bids on U.S. dollars from those who need to import these supplies so that the supply of dollars is equal to their demand and, therefore, they can maintain the rate at LE 7.83 in the auction. 100 USD 3,077.3744 EGP. US Dollar to Egyptian Pound Exchange Rate Chart Xe Historical Currency Exchange Rates Chart Convert Send Charts Alerts Popular US Dollar (USD) Pairings Euro 1 USD equals to 0.916308 EUR +0.0036 (0.39%) Weekly View chart British Pound 1 USD equals to 0.804872 GBP +0.0049 (0.61%) Weekly View chart Japanese Yen 1 USD equals to 133.752 JPY Egypts devaluation ushers in volatility as pound plumbs new low, Egypts pound heads for biggest drop since October devaluation, Bank of Israel is ready to act if shekel ruins inflation outlook. 12300 USD = 379,455.00 EGP. 80 USD = 2,468.00 EGP81 USD = 2,498.85 EGP. 980 USD = 30,233.00 EGP. Please send an email to pro.support@al-monitor.com and we'll onboard your team. 12H 1D 1W 1M 1Y 2Y 5Y 10Y. Independent, trusted coverage of the Middle East. The Egyptian pound weakened to a shocking rate of 13 against the U.S. dollar on the black market on Tuesday, at least 42 percent weaker than the Central Bank's official rate of 8.78. When Egypt announced the staff-level agreement, it said it had moved to a "durably flexible exchange rate regime, leaving the forces of supply and demand to determine the value of the EGP against other foreign currencies". In a statement issued by the cabinet on Friday, Kouchouk reiterated that the agreement with the IMF aimed to achieve a flexible exchange rate. That is about 18.5% weaker than its rate before a sharp depreciation last Thursday, when Egypt said it would adhere to a "durably flexible" exchange rate as a new International Monetary Fund loan was announced, and about 35% weaker than its level at the start of the year. Get current currency exchange rates of Syrian pound and US dollar saving certificates by 100 % to 5,... 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Explore Financial Stability Egyptian capital, Kamal sells suitcases and handbags out of a 21st-century economy interest on!