The currency rates varied today, Thursday, 7-9-2020, against the Egyptian pound, in the morning dealings, compared to the close of yesterday’s transactions. According to the latest updates of a number of different banks, especially the National Bank of Egypt, we publish currency rates against the Egyptian pound today, which came as follows:
The price of the dollar today
The price of the dollar fell today against the Egyptian pound in some banks operating in Egypt, according to the latest updates to the National Bank of Egypt, and recorded 15.99 pounds for purchase, 16.09 pounds for sale, compared to yesterday’s price of 16.01 pounds for purchase, 16.11 pounds for sale.
Euro rate today
The exchange rate of the euro rose against the Egyptian pound today, according to the latest updates of the National Bank of Egypt, and reached 18.11 pounds for purchase, 18.29 pounds for sale, compared to yesterday’s price of 18.01 pounds for purchase, and 18.17 pounds for sale.
The price of the pound sterling today
The exchange rate of the British pound increased against the Egyptian pound today, and according to the latest updates of the National Bank of Egypt, it reached 20.15 pounds for purchase, 20.34 pounds for sale compared to 20.07 pounds for purchase, 20.24 pounds for sale.
The Saudi Riyal price today
The Saudi riyal exchange rate stabilized against the Egyptian pound today, according to the latest data of the National Bank of Egypt, and the riyal price was 4.17 pounds for purchase, and 4.28 pounds for sale.
The rate of Kuwaiti dinar today
The Kuwaiti dinar exchange rate fell against the pound today, according to the latest data of the National Bank of Egypt, and its price today reached 49.50 pounds for purchase, 52.36 pounds for sale compared to 49.56 pounds for purchase, and 52.39 pounds for sale.
The Central Bank of Egypt recently announced that the money supply increased to 4.45 trillion pounds last May, by 17.24% compared to April 2020..
It is worth noting that the Central Bank of Egypt has taken 17 measures and decisions to reduce the repercussions of the emerging corona virus on the Egyptian economy, which has greatly assisted in supporting economic performance and contributed to mitigating the negative impact of the epidemic on companies and also on individuals and different social classes..
The Central Bank stressed that these measures aim to preserve the gains achieved by the economy since the launch of the economic reform program, as the beginning of these measures and decisions was in the middle of last March, with a decision to reduce interest rates by 3% to stimulate the economy to grow in light of global developments and conditions as a measure Exceptional to support economic activity in all sectors.
The currency rate is a “thermometer” of the performance of the economies of countries. When dollar flows and capital occur in hard currency, this supports the strength of the currency, and within the framework of progress and improvement of the Egyptian economy indicators significantly over the past period, the price of the pound against the dollar has reversed during the past months With the rise of the local currency against its American counterparts, this performance is expected to continue during the coming period, with the progress of economic indicators and the improvement of 5 basic dollar resources for Egypt.