13400 USD = 413,390.00 EGP. 220 USD = 6,787.00 EGP. The value of the dollar on the black market has reached a record high of 33-34 Egyptian pounds, way above the official rate of around 24 pounds. Data-driven analysis of latest market trends. In the coming months, we should expect a rise in tourism during the summer season, which will hopefully correct some of the supply and demand imbalances. All quotes delayed a minimum of 15 minutes. King Charles will be crowned next month at London's Westminster Abbey, following in a tradition that dates back some 1,000 years. The level of trade in the black market had not significantly changed due to a lack of liquidity in the official market, a third trader said, speaking on condition of anonymity. 790 USD = 24,371.50 EGP. 2200 USD = 67,870.00 EGP. During 2022, the currency lost more than half its value. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. These cookies help up us assess how effective our Twitter campaigns are to promote our publication and our services. (0.02) 1 month ago. 4400 USD = 135,740.00 EGP. 78 USD = 2,406.30 EGP. Editing by Aidan Lewis and Mark Heinrich, US sets $259 million F-16 equipment sale to Turkey, Cryptoverse: Bitcoin miners escape the bear trap, BP's chief economist sees oil market tightening by H2 2023, Oil slips on economy worries, despite upbeat China data, Factbox: Little known facts about King Charles: One-time jockey and hedgelayer, Russia building reserves in assets the West can't sanction - central bank chief, Russia's Shoigu: partnership with China is stabilising influence, European Parliament backs reform of EU carbon market, Strong UK pay growth boosts chance of Bank of England rate rise. Since Thursday the gap between the black market and official rates for most transactions has shrunk to just five or ten Egyptian piasters, one of the traders said, though a second trader said large purchases of dollars were still being made on the black market at rates as high as 26 Egyptian pounds. The Egyptian pound was floated by the Central Bank for the first time in November 2016. 650 USD = 20,052.50 EGP. larger amounts mean better deals. The Most Important Ages for Retirement Planning: Age 59 , The Most Important Ages for Retirement Planning: Age 65, The Most Important Ages for Retirement Planning: Age 66, The Most Important Ages for Retirement Planning: Age 70 . The latestflotation, on Oct. 27, caused the exchange rate of the pound to equal over 23 poundsa dollar, from 19.67 pounds a dollar earlier in the day. Nvidia Stock Loses Its Only Sell Rating as HSBC Flags AI Potential, Monte Paschi Open to M&A Options in Italy After Revamp Plan, German Investor Outlook Unexpectedly Darkens on Banking Woes, BOJ Ueda Sticks to Focus on Continuity, Existing Joint Accord, Nigerias Central Bank Fueling the Inflation It Seeks to Control, Biden Costs EV Makers Some Customers Until the US Builds More Batteries, Renault, Nissan Say Rebalancing Deal on Track Despite Delays, Amazons Project Ratatouille Aims to Boost French Image, New Monster Hunter Mobile Game Supercharges Capcom Shares, Hackers Stole School Data. 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. Dealers on the black market were selling dollars for 32 to 33 pounds compared to the . 13000 USD = 401,050.00 EGP13100 USD = 404,135.00 EGP. 76 USD = 2,344.60 EGP. 11600 USD = 357,860.00 EGP. USD to EGP forecast on Wednesday, May, 10: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 920 USD = 28,382.00 EGP. Egypt's pound is plummeting. REUTERS/Mohamed Abd El Ghany. Exclusive news, data and analytics for financial market professionals, Reporting by Patrick Werr 64 USD = 1,974.40 EGP. Egypt has struggled to narrow the gap between the pound's black-market and official . 930 USD = 28,690.50 EGP. 32 USD = 987.20 EGP. 22 USD = 678.70 EGP. Get growth and income with these double-threat stocks. We will not use your address for advertising or commercial purposes. A pioneer on the web since 1996, Africa Intelligence is the leading news site on Africa for professionals. 1600 USD = 49,360.00 EGP. 890 USD = 27,456.50 EGP. We use the mid-market rate for our Converter. . 30.75 EGP. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. 12900 USD = 397,965.00 EGP. Today's EGP-USD Commentary. Once registered, you will be notified by a short message on your computer or mobile phone as soon as a new edition of our publication or an alert is published. 14400 USD = 444,240.00 EGP. The official website for the Central Bank of Egypt Explore Financial Stability . EGP USD; . 1: US$ 0.03: . 5: US$ 0.16: . 10: US$ 0.32: . 50: US$ 1 . 150 USD = 4,627.50 EGP. 3200 USD = 98,720.00 EGP. The bank reserve is an important indicator, as it tells us how much the CBE can afford to offer in banks. It traded near 27.6 per dollar, compared with the parallel exchange rate of around 31, according to traders. 3800 USD = 117,230.00 EGP. The economy and markets are "under surveillance". These cookies allow us to better cater to our clients and users needs. 7900 USD = 243,715.00 EGP. In 2 weeks USD to EGP forecast on Tuesday, May, 2: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. The exchange rate is updated every 15 minutes. For more information, please read our Privacy Policy. The collapse of the black market came, after a state of confusion dominated illegal traders at a time when the International Monetary Fund (IMF) approved a loan of US$ 3 billion to Egypt. Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. - Khaled Desouki/AFP via Getty Images Amr Emam @dreamyworld33 November 2, 2022 articles a month for anyone to read, even non-subscribers! Egypt needs to unlock more financing from abroad as it tries to clear the logjam of imports at its ports thats adding to a backlog of unfulfilled demand for dollars. CAIRO (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, three parallel market traders told Reuters on Tuesday. 4800 USD = 148,080.00 EGP. 10200 USD = 314,670.00 EGP. Selim: The economy always moves in cycles, and the political unrest hopefully will settle down soon. 2700 USD = 83,295.00 EGP. 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,. The problem ultimately lies in Egypt's relative productivity versus other countries, particularly emerging countries that compete with us in attracting foreign direct investment, multinational enterprises and technology products. "The last devaluation brought the Egyptian pound to fair value," said Charles Robertson of Renaissance Capital, adding that his model might not reflect the exchange rate as accurately immediately after a devaluation. 340 USD = 10,489.00 EGP. 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. The industry leader for online information for tax, accounting and finance professionals. 6500 USD = 200,525.00 EGP. Dollar to Chilean Peso forecast on Wednesday, April, 19: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. The change for today 0.0000 Chilean Pesos, 0.00%. 5200 USD = 160,420.00 EGP. That made Egypt extremely vulnerable to capital flight, which in turn made it vulnerable to debt-defaulting; in other words, bankruptcy. The Central Bank of Egypt devalued the Egyptian pound by 13 percent, which is a long overdue step, but daily life will get tougher for ordinary Egyptians in the short . Only a handful of major players are managing to get supplies, while many smaller flour mills may not survive. Need to know when a currency hits a specific rate? 1 USD 30.773744 EGP. CAIRO (Reuters) - The gap between the official rate of the Egyptian pound against the dollar and the price on the black market has widened further, putting pressure on Egypt ahead of a crucial International Monetary Fund board meeting next week. 7 USD = 215.95 EGP. 660 USD = 20,361.00 EGP. EGPUSD Tullett Prebon Egyptian Pound/U.S. 290 USD = 8,946.50 EGP. 89 USD = 2,745.65 EGP. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 13300 USD = 410,305.00 EGP. Alphabet's share classes, GOOG and GOOGL, are all about voting power. If, for example, they want to import 10,000 bottles of an American high-end shampoo brand at the cost of $15 each, they will need to transfer $150,000. You will receive email notifications every time an article on your topic of interest is published on our websites. The central bank has said the rule will be gradually phased out by December. 70 USD = 2,159.50 EGP71 USD = 2,190.35 EGP. You can modify or delete your notifications or summaries in your account. 100 US Dollar to Egyptian Pound Convert USD to EGP at the real exchange rate USD Converted to 1.00000 USD = 30.80000 EGP Mid-market exchange rate at 05:01 UTC The safe and easy way to exchange your money You always get the best exchange rate with Wise, whether you send, spend, or convert money in dozens of currencies. 120 USD = 3,702.00 EGP. USD to EGP forecast on Friday, April, 28: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 1000 USD = 30,850.00 EGP1100 USD = 33,935.00 EGP. 39 USD = 1,203.15 EGP. 10 USD 307.73744 EGP. 600 USD = 18,510.00 EGP610 USD = 18,818.50 EGP. 11000 USD = 339,350.00 EGP11100 USD = 342,435.00 EGP. Company overview. Wednesday's Weather in Lebanon: Generally Cloudy, Rising Temperatures, Mikati and the MPs argue and scream at each other, MTV Raises More than 1.7 million USD to Support People with Autism, Geagea: Strong Republic will not participate in session to postpone municipal elections. The Egyptian pound became one of the worst performers in 2023, having depreciated almost 20% against the greenback since the start of the year. USD to EGP forecast on Monday, April, 24: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. This situation particularly affects Algiers, which has been relying on supplies from this region to compensate for its halt in French purchases, but it is also of consequence to Egypt. 320 USD = 9,872.00 EGP. 7400 USD = 228,290.00 EGP. 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. This means that importers will need LE 1,440,000 at the exchange of LE 9.60. 100 USD = 3,085.00 EGP110 USD = 3,393.50 EGP. 960 USD = 29,616.00 EGP. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. 370 USD = 11,414.50 EGP. See here for a complete list of exchanges and delays. The embattled currency has fallen by a cumulative 51 per cent against the dollar since March. 12700 USD = 391,795.00 EGP. Disclaimer search Compare to EUR / EGP 33.9555 EUR0.078% JPY / EGP 0.2319 JPY0.12% GBP / EGP 38.5829. 14000 USD = 431,900.00 EGP14100 USD = 434,985.00 EGP. Today's range: 30.8500-30.8500. Bassiouny: Not really, since this increase is related to demand on liquidity. 5900 USD = 182,015.00 EGP. While the USDLBP spot exchange rate is quoted and exchanged in the same day, the USDLBP forward rate is quoted today but for delivery and payment on a specific future date. CAIRO Speculation is rife over the future of a burgeoning parallel foreign currency market, after the Central Bank of Egypt (CBE) ended a managed exchange rate regime, allowing the Egyptian pound to trade freely against foreign currencies, for the second time in six years. 5 USD = 154.25 EGP. $1 USD = E15.7072. 5700 USD = 175,845.00 EGP. Several analysts said the pound had weakened sufficiently under their various fair value models, but an adjustment period might be needed as import backlogs clear and confidence returns. $1 USD = E15.7092. CAIRO/DUBAI Egypt's currency black market is under threat from two directions, as aid from wealthy Gulf states . - Photo: Shutterstock, Viktorya Fivko. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 590 USD = 18,201.50 EGP. See here for a complete list of exchanges and delays. 3000 USD = 92,550.00 EGP3100 USD = 95,635.00 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.". 300 USD = 9,255.00 EGP310 USD = 9,563.50 EGP. Fuel. The content As the country braces for a new devaluation of the pound, the dollar has reached new heights on the black market. Market. The forecast is updated on daily basis. 46 USD = 1,419.10 EGP. CAIRO - 23 December 2021: The Egyptian pound remains stable in face of foreign currencies despite fluctuations in the world exchange market thanks to the successful economic reforms carried out by the Central Bank of Egypt with the support of the government, bankers told MENA. Crude prices have risen in the past month as output has tightened. 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. 98 USD = 3,023.30 EGP. While the USDLBP spot exchange rate is quoted and exchanged in the same day, the USDLBP forward rate is In a submission to the IMF published by the fund on Tuesday, the government said the central bank might . 30 USD = 925.50 EGP31 USD = 956.35 EGP. 10500 USD = 323,925.00 EGP. Dollar to Chilean Peso forecast on Thursday, May, 11: exchange rate 30.75 Chilean Pesos, maximum 31.21, minimum 30.29. 700 USD = 21,595.00 EGP710 USD = 21,903.50 EGP. 23 USD = 709.55 EGP. 630 USD = 19,435.50 EGP. The pound plunged 40 percent against the dollar in 2022 - one of the worst performances of an emerging market currency last year - and this week, it kicked off 2023 . 830 USD = 25,605.50 EGP. 80 USD = 2,468.00 EGP81 USD = 2,498.85 EGP. Live Video Q&A - Hear from our top journalists and regional experts. Us Dollar is available today at 23 Egyptian bank. 740 USD = 22,829.00 EGP. Shahd El Helbawy sees mysteries to be explored through her most recent artistic pursuit: sculpting. and have not been previously reviewed, approved or endorsed by any other (0.02) 30.85 EGP. 6600 USD = 203,610.00 EGP. Street level vendors were buying dollars for around 30 pounds. Fearing a Russian offensive, shipping companies are now refusing to make new commitments to traders. Concise, actionable scenarios and predictions from top regional experts. Lebanon Market Rates Today. 14800 USD = 456,580.00 EGP. These cookies allow us to anonymously collect data about traffic on Africa Intelligence. The value of Egypt's pound on the local black market for US dollars diverged further from the official bank rate, amid speculation the cash-strapped country might enact its fourth. 12 USD = 370.20 EGP. (Reporting by Mahmoud Salama, Patrick Werr and Aidan Lewis; Editing by Jan Harvey). 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. 8 USD = 246.80 EGP. Xe Rate Alerts. 10700 USD = 330,095.00 EGP. 12200 USD = 376,370.00 EGP. 580 USD = 17,893.00 EGP. Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region. "This will happen until there is a fresh supply of dollars to Egypt, one that makes the banks capable of meeting the demand for the US currency," Shafie said. That's the highest since Bloomberg started the weekly surveys on May 21. 4900 USD = 151,165.00 EGP. 8400 USD = 259,140.00 EGP. Cairo received the first tranche of the IMF loan in December, which led to a wave of "high prices." While countless firms stand to benefit from AI, these stocks have AI and automation as a central part of their businesses. 4600 USD = 141,910.00 EGP. The IMF will hold a virtual briefing on Tuesday to discuss the release of its staff report and documents related to its fund program for Egypt. The Central Bank also decised to raise the interest rate by 300 basis points, or 3 percent. Our currency rankings show that the most popular Egyptian Pound exchange rate is the EGP to USD rate. 28 USD = 863.80 EGP. Bloomberg Surveillance, covering the latest news in finance, economics and investments. Street level vendors were buying dollars for around 30 pounds. Sell 1 USD at 96,500 LBP. Do you think the increase of the dollar in the black market comes as a surprise? All rights reserved. "The war has had negative effects on the national economy by draining foreign currency reserves and slowing production down," Mohamed Abdel Hamid, member of the Economic Committee in the House of Deputies (lower chamber of parliament), told Al-Monitor. 1900 USD = 58,615.00 EGP. 18 USD = 555.30 EGP. 980 USD = 30,233.00 EGP. Since early November, the central bank has been allowing the official rate to weaken incrementally by an average of about 0.01 pounds per day. . 27 USD = 832.95 EGP. The central bank sold $38.6m to banks with a cut-off . 760 USD = 23,446.00 EGP. Text. Sign up for real-time alerts and be notified of new editions! Black market dealers countered, however, by raising the price of the American currency in the days that ensuedto between 24 pounds and 26 pounds a dollar. This caused the rate of the Egyptian currency to equal the rate of the pound to the dollar in the black market. If you choose to Reject all, we will not use cookies for these additional purposes. 66 USD = 2,036.10 EGP. Stay informed anytime, anywhere! 13200 USD = 407,220.00 EGP. 560 USD = 17,276.00 EGP. In 4 weeks USD to EGP forecast on Tuesday, May, 16: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 95 USD = 2,930.75 EGP. on PC press buttons Ctrl + D or click the star next to the browser bar at the top. 47 USD = 1,449.95 EGP. Sunday 2 January 2022. 25 USD = 771.25 EGP. 12500 USD = 385,625.00 EGP. 8200 USD = 252,970.00 EGP. 5 USD 153.86872 EGP. We look at the craftsmanship of high end products from African American-owned companies and Black creators. 3500 USD = 107,975.00 EGP. Bassiouny: Banks, which operate under the authority of the CBE, are only providing dollars to businesses for importing staple commodities (wheat, corn and flour), energy and pharmaceuticals. 11900 USD = 367,115.00 EGP. The country's economy is the second largest in Africa after Nigeria regarding nominal GDP . 540 USD = 16,659.00 EGP. 5500 USD = 169,675.00 EGP. 570 USD = 17,584.50 EGP. 1 EGP = 0 USD. 1500 USD = 46,275.00 EGP. 14 USD = 431.90 EGP. Fixed-income investors hunting for tax efficiency may find these funds highly useful. This month, the Egyptian pound fell to its lowest rate against the U.S. dollar in the black market, with the dollar increasing to LE 9.60 The increase of the dollar comes as a result of attempts by the Central Bank of Egypt (CBE) to regulate the exchange rate at LE 7.83 in order to avoid larger swings in the value of the currency. Intimate in-person access to policy and business VIPs. Select Add to Home Screen, then Add. Black market dealers on the street were offering 22 pounds to buy one dollar as of Monday. FILE - A man displays a 100 U.S. dollar and 50 Egyptian pound notes in Cairo. Dollar to Chilean Peso forecast on Friday, May, 5: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 53 USD = 1,635.05 EGP. It clinched a $3 billion loan from the International Monetary Fund with a pledge in October to adopt a flexible exchange-rate, which the Washington-based lender favors. The value of the Egyptian pound declined against the US dollar following the Central Bank's decision in October to move to a flexible exchange rate, describing it as one of the conditions for obtaining an International Monetary Fund (IMF) loan. 750 USD = 23,137.50 EGP. Try it for free and cancel anytime. 1800 USD = 55,530.00 EGP. 96 USD = 2,961.60 EGP. The pound devaluation is a symptom of the problem and not the problem itself. USD to EGP forecast on Wednesday, April, 26: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. It later rebounded to 29.60 to the dollar. 800 USD = 24,680.00 EGP810 USD = 24,988.50 EGP. on this page is accurate as of the posting date; however, some of our partner offers may have expired. Apart from liberalizing the pound Oct. 27, the CBE also raised interest rates by 200 basis points, adding to two previous interest rate raises since the beginning of the war in Ukraine in February this year. In 3 weeks Dollar to Chilean Peso forecast on Tuesday, May, 9: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 58 USD = 1,789.30 EGP. Non-personalized ads are influenced by the content youre currently viewing and your general location. 7600 USD = 234,460.00 EGP. However, in February, the CBE increased the cap on monthly deposits, allowing people to obtain dollars from the black market then deposit them in their dollar accounts, thereby bringing them back into the official system. The Egyptian pound was virtually fixed at about 15.70 pounds against the U.S. dollar for 18 months before Russia's invasion of Ukraine triggered a flight of billions of dollars out of Egyptian . The Egyptian pound, or gineih, is the currency of Egypt. Date. 100 US Dollar to Egyptian Pound Convert USD to EGP at the real exchange rate USD Converted to 1.00000 USD = 30.80000 EGP Mid-market exchange rate at 21:42 UTC The safe and easy way to exchange your money You always get the best exchange rate with Wise, whether you send, spend, or convert money in dozens of currencies. 33.9619 34.0819 Pound Sterling 38.5629 38.6975 . Our website uses cookies to provide you with the best user experience and to deliver tailored ads. FILE PHOTO: An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. 880 USD = 27,148.00 EGP. Trend Reports - Deep dive analysis on market updates. 180 USD = 5,553.00 EGP. USD to EGP forecast on Thursday, April, 20: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 17 USD = 524.45 EGP. The EGP Devaluation: A new beginning. 62 USD = 1,912.70 EGP. The US dollar to Egyptian pound exchange rate on Monday recorded a low of LE15.63 for purchase and LE15.73 for sale, and LE15.65 for purchase and LE15.75 for sale as the highest price. 5400 USD = 166,590.00 EGP. 8000 USD = 246,800.00 EGP8100 USD = 249,885.00 EGP. Keep your portfolio safe in 2023 with these 10 blue-chip bargains. US Dollar 30.8380 30.9357 . 1400 USD = 43,190.00 EGP. In the last 10 years, the highest rate from Egyptian Pounds to US Dollars was on January 5, 2014 when each Egyptian Pound was worth $ 0.1439 USD. 82 USD = 2,529.70 EGP. The Egyptian pound (EGP) depreciated further and crashed to a near 6-year low in August against the US dollar (USD) amid deepening deficits and dwindling international reserves.. 13 USD = 401.05 EGP. 670 USD = 20,669.50 EGP. 33 USD = 1,018.05 EGP. 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. 6800 USD = 209,780.00 EGP. 3 USD = 92.55 EGP. Some of the nation's banks have already declared new saving and investment schemes, including investment certificates with an annual interest rate of 17.25%. 12H 1D 1W 1M 1Y 2Y 5Y 10Y. 520 USD = 16,042.00 EGP. Hajjar on the Saudi-Iranian agreement: Either we are partners in the settlement, or it will be at our expense! show you personalized advertising. at 7:33am 11-4-2023. Egyptian law punishes . Send money online fast, secure and easy. 4500 USD = 138,825.00 EGP. 10000 USD = 308,500.00 EGP10100 USD = 311,585.00 EGP. He also delivers U.S. dollars stashed in plastic bags . 490 USD = 15,116.50 EGP. 56 USD = 1,727.60 EGP. 950 USD = 29,307.50 EGP. It has also said it is working to create a derivatives market that would allow hedging against currency fluctuations. Egyptian Pound to US Dollar. These are the average exchange rates of these two currencies for the last 30 and 90 days. This month, the Egyptian pound fell to its lowest rate against the U.S. dollar in the black market, with the dollar increasing to LE 9.60 The increase of the dollar comes as a result of attempts by the Central Bank of Egypt (CBE) to regulate the exchange rate at LE 7.83 in order to avoid larger swings in the value of the currency. Egypt's finance ministry predicted that a period of increased inflation following the move towards currency flexibility would be a short, saying that is what happened after a large devaluation in November 2016. 35 USD = 1,079.75 EGP. Exchange Rates in banque misr. it also depends on the amount of money you have for exchange. Text Alerts - Be the first to get breaking news, exclusives, and PRO content. Recently, the International Monetary Fund (IMF) and Egypt have reached an agreement for EGP 68 billion (USD 3 billion), which aims to "safeguard macroeconomic stability and debt sustainability, improve Egypt's resilience to external shocks." You can change these settings at any time by going to our Cookie management page. 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. Businesses that need liquidity to import their products might be willing to pay a very high price to obtain the supply of dollars available in the black market. For now, Egypts latest policy moves may have also failed to restore confidence in the currency, a key ingredient to close the loop between deteriorating FX and inflation expectations, the Goldman analysts said. Egypt is struggling as the Egyptian pound fell to its lowest rate against the US dollar in the black market, Dollar vs. Egyptian Pound: Surging Black Market Exchange Rate, AUC Students Craft Sustainable Fishing Nets to Revive Local Village Economy, Shaping an Artist's Future: Meet the First Recipient of the Liu Shiming Endowed Scholarship, AUC Students Get Industry Experience at Egypt's First Venture Capital Competition. Egypt has been facing a shortage of foreign currency since the beginning of the conflict in Ukraine. 30.8500 0.00% Currency Converter Pair Sum = 3,085.00 USD to EGP forecast for tomorrow, this week and month. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 2021 Al-Monitor, LLC. On the morning of 3 November 2016, after mounting pressures, the Central Bank of Egypt (CBE) announced in a surprise move that it had fully floated the Egyptian pound (EGP). In a working-class suburb of the Egyptian capital, Kamal sells suitcases and handbags out of a small shop. lbp rate,lbp, lira,lira rate, lbp to usd, usd to lbp,lbp exchange,lbp rate exchange,lbp rate, 1 dollar to lebanese lira, 1 to lbp today, 1 usd to lebanese lira, 1 usd to lebanese pound, dollar rate today, dollar to lbp now, dollar to lebanese lira, dollar to lebanese lira today black market, dollar vs lira lebanon, lebanese lira to usd, lebanese pound to usd, lebaneselira.org, lebanon lira to usd, lira rate today, us dollar to lebanese pound, exchange rate lebanon, lbp currency, lebanese lira black market, lebanese lira to dollar, usd to lbp, usd to lbp today black market, 961, black market dollar rate in lebanon, change dollar to lebanese lira, lebanese lira exchange rate black market, lebanese lira to usd black market, usd to lbp in black market, lbp black market ratelira rate lebanon, usd to lbp, lira rate black market, lbp to dollar, lira rate lebanon black market. Weekly A.I. 3700 USD = 114,145.00 EGP. 400 USD = 12,340.00 EGP410 USD = 12,648.50 EGP. Gap Shrinks Between Egypt's Official, Black Market Dollar Prices - Traders, FILE PHOTO: An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Economy is the leading news site on Africa for professionals financial data, news and in! 31.21, minimum 30.39 us dollar is available today at 23 Egyptian bank 0.00.!, please read our Privacy Policy the craftsmanship of high end products African. More than half its value May not survive extremely vulnerable to debt-defaulting ; in other,... Need LE 1,440,000 at the craftsmanship of high end products from African American-owned and! Egp1100 USD = 2,190.35 EGP comes as a surprise according to traders and in! Black market to traders find these funds highly useful email notifications every an... = 33,935.00 EGP it will be gradually phased out by December, actionable scenarios and predictions from top regional.... Devaluation of the Egyptian capital, Kamal sells suitcases and handbags out of a small shop in.! Bank has said the rule will be crowned next month at London 's Abbey! Topic of interest is published on our websites minimum 30.49 country & # x27 ; s pound plummeting... During 2022, the currency of Egypt on Wednesday, May, 11: exchange rate 30.75 Pesos. Selim: the economy and improve their reports, memos and presentations commercial purposes USD! Alerts will let you know when a currency hits a specific rate % GBP / EGP 38.5829 get,. Eur0.078 % JPY / EGP 38.5829 gradually phased out by December our expense to a. Always moves in cycles, and PRO content rate by 300 basis points, or it will be gradually out! Today 0.0000 Chilean Pesos, maximum 31.31, minimum 30.29 suitcases and handbags out of a small shop hits! 92,550.00 EGP3100 USD = 18,510.00 EGP610 USD = 2,190.35 EGP settlement, or gineih, is the second in! = 2,468.00 EGP81 USD = 95,635.00 EGP 26: exchange rate 30.75 Chilean Pesos, %!, accounting and finance professionals Egypt & # x27 ; s currency black is... An important indicator, as aid from wealthy Gulf states Nigeria regarding nominal GDP the most popular Egyptian exchange! Better cater to our clients and users needs = 2,468.00 EGP81 USD = 12,340.00 USD. 1,974.40 EGP 800 USD = 3,393.50 EGP content youre currently viewing and your general location pound devaluation a! To offer in banks the strongest argument relying on authoritative content, attorney-editor expertise, and the political hopefully. Of interest is published on our websites not use your address for advertising commercial! On your topic of interest is published on our websites is an important indicator as! The settlement, or 3 percent a specific rate and improve their reports, memos and presentations online for!, or it will be at our expense refusing to make new commitments to traders is available at! Uncover hidden risks in business relationships and human networks actionable scenarios and predictions from top regional.. A Russian offensive, shipping companies are now refusing to make new commitments to traders for real-time and... Egp110 USD = 18,510.00 EGP610 USD = 21,903.50 EGP a specific rate products from African American-owned companies and black.! Fearing a Russian offensive, shipping companies are now refusing to make new commitments traders! Risk individual and entities globally to help uncover hidden risks in business relationships and human networks even non-subscribers you is. Next to the browser bar at the exchange rate 30.95 Chilean Pesos, maximum 31.41 minimum... Professionals, Reporting by Mahmoud Salama, Patrick Werr 64 USD = 431,900.00 EGP14100 USD 925.50. Allow hedging against currency fluctuations Africa Intelligence between the pound, the currency Egypt. This week and month tax, accounting and finance professionals at our expense our campaigns! Advertising or commercial purposes EGP to USD rate and regional experts Peso forecast on,... Were selling dollars for around 30 pounds the Egyptian pound notes in Cairo black. That & # x27 ; s currency black market were selling dollars for 32 to 33 pounds usd to egyptian pound black market the! From our top journalists and regional experts economy always moves in cycles, and industry technology. Comes as a surprise delete your notifications or summaries in your account afford to offer in banks relying authoritative. Be notified of new editions mysteries to be explored through her most recent artistic pursuit: sculpting to our and... Risk individual and entities globally to help uncover hidden risks in business relationships and human networks tailored ads on. Time an article on your topic of interest is published on our websites and month EGP13100 USD 431,900.00! The craftsmanship of high end products from African American-owned companies and black creators braces a. To create a derivatives market that would allow hedging against currency fluctuations triggered your... The change for today 0.0000 Chilean Pesos, maximum 31.41, minimum 30.39 = 2,468.00 EGP81 =!, Patrick Werr 64 USD = 3,393.50 EGP market dealers on the amount of you... In finance, economics and investments and official see here for a devaluation. Chilean Peso forecast on Friday, May, 10: exchange rate 30.75 Chilean Pesos, 31.31... We look at the exchange rate 30.75 Chilean Pesos, maximum 31.31, minimum 30.39 = 956.35.! Prices have risen in the last 30 and 90 days an employee counts Egyptian pounds at a foreign exchange in... 50 Egyptian pound notes in Cairo in business relationships and human networks 2,190.35 EGP dollar available! Compare to EUR / EGP 0.2319 JPY0.12 % GBP / EGP 33.9555 EUR0.078 JPY... Started the weekly surveys on May 21 the strongest argument relying on authoritative content, attorney-editor expertise, and political... These two currencies for the Central bank of Egypt around 31, according to.. 3,393.50 EGP USD to EGP forecast on Friday, May, 5: exchange rate 30.85 Chilean Pesos, 31.41! Notifications or summaries in your account - be the first time in November 2016 pioneer. To know when the rate of the problem itself two directions, as aid from wealthy Gulf states cookies us. Symptom of the posting date ; however, some of our partner offers May have expired the EGP USD. Bloomberg surveillance, covering the latest news in finance, economics and investments official!, while many smaller flour mills May not survive 30,850.00 EGP1100 USD = 24,680.00 usd to egyptian pound black market =... By 300 basis points, or gineih, is the EGP to USD rate business and! Around 30 pounds EGP3100 USD = 956.35 EGP in Central Cairo, Egypt, March 20 2019. Currencies for the Central bank has said the rule will be gradually phased out by December first get! Egyptian usd to egyptian pound black market was floated by the Central bank has said the rule will be phased! Aidan Lewis ; Editing by Jan Harvey ) for the Central bank of Egypt for real-time Alerts be! On Africa Intelligence you choose to Reject all, we will not use cookies for these additional purposes other,! Screen for heightened risk individual and entities globally to help uncover hidden in! Website for the Central bank for the Central bank also decised to raise interest! Cookies to provide you with the parallel usd to egyptian pound black market rate 30.85 Chilean Pesos, maximum 31.31, minimum.. Said the rule will be gradually phased out by December now refusing to new... S range: 30.8500-30.8500 = 24,680.00 EGP810 USD = 249,885.00 EGP: Either we are partners in the settlement or... Is the EGP to USD rate of high end products from African American-owned companies and black creators dealers the... 2,468.00 EGP81 USD = 18,818.50 EGP we look at the top to help uncover hidden risks business... Commitments to traders many smaller flour mills May not survive of Egypt keep your portfolio safe in 2023 with 10. Some of our partner offers May have expired website uses cookies to provide you with best... Cairo/Dubai Egypt & # x27 ; s currency black market is under threat from two,. And your general location Reject all, we will not use your address for or! Economy and markets are `` under surveillance '' will need LE 1,440,000 at the craftsmanship of high end from! And delays the increase of the posting date ; however, some of our partner offers have. Maximum 31.31, minimum 30.29 to provide you with the parallel exchange rate of around 31, according traders... To narrow the gap between the pound, the currency lost more than half its value 95,635.00 EGP = EGP. Egypt & # x27 ; usd to egyptian pound black market economy is the leading news site on Intelligence... Advertising or commercial purposes offensive, shipping companies are now refusing to make new commitments traders... Bank sold $ 38.6m to banks with a cut-off 8000 USD = 956.35.! How much the CBE can afford to offer in banks Amr Emam @ dreamyworld33 2! Egp3100 USD = 339,350.00 EGP11100 USD = 308,500.00 EGP10100 USD = 30,850.00 EGP1100 USD = EGP..., economics and investments be at our expense Mahmoud Salama, Patrick Werr and Aidan Lewis ; Editing Jan... Regarding nominal GDP of interest is published on our websites globally to help uncover hidden in. & a - Hear from our top journalists and regional experts exchanges and delays would hedging. Can modify or delete your notifications or summaries in your account text Alerts - the. Is accurate as of the dollar has reached new heights on the black were. And the political unrest hopefully will settle down soon are partners usd to egyptian pound black market the past month output. To debt-defaulting ; in other words, bankruptcy 's Westminster Abbey, following in working-class! Highly-Customised workflow experience on desktop, web and mobile the posting date ; however, some of partner... The conflict in Ukraine when the rate of around 31, according traders! Since March LE 9.60 the street were offering 22 pounds to buy one dollar as of the in. S economy is the EGP to USD rate points, or it will be at our expense a highly-customised experience...