The average exchange rate of the European Euro against the Egyptian pound was confirmed today, Saturday, October 23, 2021 in limited transactions.
And Egyptian banks, official holidays on Fridays and Saturdays.
The high price of the euro in Egypt
The average price of the European Euro against the Central Bank of Egypt is 18.22 pounds and 18.34 pounds.
According to Al-Ain News, the average price of the euro was .1 18.19 and .3 18.36, respectively, based on prices at 23 banks.
BLOM Bank came to Egypt with the highest price of Euro 18.25 and .4 18.42 for sale in Egypt.
The lowest prices for the euro were 18 18.13 and .2 18.28 at the Egyptian Arab Land Bank.
At Egypt and the National Bank of Egypt (two major state-owned banks), the euro was 18 18.17 for purchases and .3 18.34 for sales.
Fitch confirms Egypt’s rating on “B +”
Economic reforms in Egypt have recently proven effective, prompting international financial institutions to raise their views on the country.
On Wednesday, Fitch ratings kept Egypt’s credit rating stable at “B +”.
The credit rating agency said it was supported by the financial and economic reforms being pursued by Egypt’s appraisal authorities and its large economy.
Fitch stressed that Egypt’s economic growth is higher than the growth of most countries throughout the epidemic.
He pointed out that the continuation of economic growth and the support package for the “corona” virus have limited the impact of the epidemic on Egypt’s public funds.
Fitch expects the country’s declining government debt to resume as a percentage of GDP in fiscal 2022, and has great flexibility in financing Egypt.
Dollar and sterling prices in Egypt
The average price of the dollar at the Central Bank of Egypt was confirmed at .6 15.66 for buying and. 15.75 for selling.
The average price of the pound sterling at the Central Bank of Egypt was fixed at .5 21.57 for buying and .7 21.71 for sale.
Rial, dirham and dinar prices in Egypt
The average price of the Saudi Riyal at the Central Bank of Egypt is 4. 4.17 for purchase and 20 4.20 for sale.
The average price of UAE dirham in Egypt’s central bank was stable at 26 4.26 and 4. 4.29.
The average price of the Kuwaiti dinar at the Central Bank of Egypt was recorded at .8 51.86 and. 52.32, the same prices as the previous two days.
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The average capital adequacy ratio of Egyptian banks is over 20%.
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