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Currency prices stabilized today, Saturday 25-4-2020, against the Egyptian pound, compared to the conclusion of transactions on Thursday, and according to the latest updates from several different banks, especially the National Bank of Egypt, Today we publish the exchange rates against the Egyptian pound, which were as follows::
The price of the dollar today
The price of the dollar stabilized today against the Egyptian pound today, according to the latest updates from the National Bank of Egypt, and recorded 15.68 pounds for the purchase, 15.78 pounds for the sale.
Euro rate today
The euro exchange rate stabilized against the Egyptian pound today, according to the latest updates from the National Bank of Egypt, and recorded 16.82 pounds for the purchase, 17.05 pounds for the sale.
The price of the pound sterling today
The exchange rate for the British pound was set today against the Egyptian pound, according to the latest updates from the National Bank of Egypt, and registered 19.28 pounds for the purchase, 19.52 for the sale.
Saudi Arabia price today
Saudi Arabia’s real exchange rate stabilized against the Egyptian pound today, according to the latest data from the National Bank of Egypt, and the real price was £ 4.11 for purchase and £ 4.20 for sale.
The Kuwaiti dinar rate today
The exchange rate of the Kuwaiti dinar stabilized against the pound today, according to the latest data from the National Bank of Egypt, and its price reached today 49.80 pounds for purchase and 50.72 pounds for sale.
Foreign currencies in Egypt’s foreign reserves consist of a basket of major international currencies, which are the US dollar, the European single currency, the euro, the British pound, the Japanese yen, and the Chinese yuan, a percentage of which the Egypt’s holdings are distributed based on the exchange rates of these currencies and their stability in international markets, and change according to a plan developed by officials of the Central Bank of Egypt..
The main function of foreign exchange reserves at the Central Bank, with its gold components and various international currencies, is to provide basic products and pay the premiums and benefits of external debt, and face economic crises, in exceptional circumstances, with affected resources. by sectors that generate strong currencies, such as exports, tourism and investments, However, due to the turmoil, other sources of strong currencies, such as remittances from Egyptians abroad that have reached a record level and the stability of Canal revenues of Suez, help to back up the reserve in a few months..
The price of the currency is a “thermometer” of the performance of the economies of the countries. When the flows of dollars and capital occur in hard currency, this supports the strength of the currency, and in the framework of the progress and improvement of the indicators of the Egyptian economy significantly during the last period, the price of the pound against the Dollar has been reversed in recent months. With the increase in the local currency against its US counterparts, this performance is expected to continue over the next period, with the progress of economic indicators and the improvement of 5 basic resources in dollars for Egypt..
The exchange rate in Egyptian banks is determined according to the supply and demand mechanism, and the higher the supply in dollars and the lower the demand, the lower the price in dollars..
