The price of the dollar stabilized today in Egypt, Friday, March 18, 2022, in exchange houses, despite the news about the weakness of the pound.
Friday and Saturday are weekly bank holidays in Egypt.
The highest price of the dollar in Egypt
The average price of the dollar in Egypt, according to data from the Central Bank of Egypt, was about 15.66 pounds to buy, and 15.75 pounds to sell.
According to an “Al-Ain News” survey of prices in 29 banks, the average price of the dollar was about 15.66 pounds for buying and 15.76 pounds for selling.
The highest price of the dollar was around 15.68 pounds for buying and 15.76 pounds for selling, at the Islamic Bank of Abu Dhabi, Kuwait’s Al-Ahly and Arab Investment.
The price of 15.66 pounds for buying and 15.76 pounds for selling dominated dollar transactions at 18 banks, including Cairo, Commercial International, Alexandria, Al-Baraka, Bloom Misr, Credit Agricole, HSBC and Arab African. .
While the price of the dollar in Al-Ahly Bank and Egypt registered around 15.64 pounds for buying and 15.74 pounds for selling, which is the lowest price of the dollar in Egypt.
Exceptional rules to maximize local purchases of wheat
Egypt has taken several steps to meet its needs for wheat, the supply of which has been affected by the war in Ukraine.
An Egyptian Supply Ministry document released by traders showed farmers will have to sell at least 60% of their wheat to the government this season, or else risk losing financial support, amid government efforts to compensate for the disruption. in wheat imports from the Black Sea region.
The document said farmers must sell at least 12 ardabas (150 kilograms) of wheat per acre, which normally yields an average of 20 ardes, according to Reuters.
Farmers will receive between 865 and 885 pounds for an ardeb they supply to the state, an 8% increase on the price set in November, according to an Egyptian cabinet statement.
The rules also apply to any third parties who have purchased wheat from farmers before a decision is made.
Once the quota is reached, farmers must obtain permission from the government to sell the remaining wheat elsewhere.
Farmers who do not comply will be denied access to subsidized fertilizer in the summer, as well as any support from the Agricultural Bank of Egypt.
No such rules have been applied to farmers in recent years.
The price of the euro and the British pound today in Egypt
The average price of the European euro rose, according to the website of the Central Bank of Egypt, to about 17.30 pounds for buying and 17.41 pounds for selling, compared with 17.23 pounds for buying and 17 £.37 for sale yesterday.
The average price of the pound sterling in the banking market, according to the Central Bank of Egypt, increased to about 21.54 pounds for buying and 21.67 pounds for selling, compared to around 20.50 pounds for buying. and £20.60 for sale yesterday.
The prices of the riyal, dirham and dinar today in Egypt
The average price of the Saudi riyal, according to the website of the Central Bank of Egypt, stabilized at around 4.17 pounds for buying and 4.20 pounds for selling.
The average price of the United Arab Emirates dirham in the banking market, according to the Central Bank of Egypt, remained stable at around 4.26 pounds for buying and 4.29 pounds for selling.
While the average price of the Kuwaiti dinar varied, according to the Central Bank of Egypt website, to record around £51.46 for buying and £51.92 for selling, compared to around £51.41 for buy and 51.93 pounds for sale yesterday.
Is the black market returned to the dollar in Egypt?
Regarding the reported return of the black market to the dollar in Egypt, a source told Al-Ain News that the price is stable in banks, but there are restrictions on exchanging large sums of money in foreign currencies, according to data. of the Central Bank and announced by the banks.
He added that the dollar ended the black market phase since the decision to float years ago, but did not deny the existence of transactions in parallel markets such as goldsmiths and some merchants.