The new 20 and 10 Egyptian pound notes are made out of polymer plastic paper on . 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. "The increase of the dollar's exchange rate against the local currency caused stagnation in the sales and made the clients reluctant to conclude any deal," he added. These cookies are required to ensure the reliability and security and our website. This is a reason for the hike in black market activity. 590 USD = 18,201.50 EGP. 5 USD = 154.25 EGP. 4600 USD = 141,910.00 EGP. 14600 USD = 450,410.00 EGP. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. After the CBE governor increased the monthly dollar deposit cap to $250,000 with no daily limit, they can deposit and transfer immediately. 8500 USD = 262,225.00 EGP. Black market boom since 1967. 22 USD = 678.70 EGP. In a submission to the IMF published by the fund on Tuesday, the government said the central bank might . on Android tap the 3-dots icon at the top right. 850 USD = 26,222.50 EGP. 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. It traded near 27.6 per dollar, compared with the parallel exchange rate of around 31, according to traders. 880 USD = 27,148.00 EGP. 42 USD = 1,295.70 EGP. 690 USD = 21,286.50 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. 12600 USD = 388,710.00 EGP. Can floating Egyptian pound kill foreign currency black market? 27 USD = 832.95 EGP. Find out more about our subscription offers. 13000 USD = 401,050.00 EGP13100 USD = 404,135.00 EGP. FILE - A man displays a 100 U.S. dollar and 50 Egyptian pound notes in Cairo. Try it for free and cancel anytime. 37 USD = 1,141.45 EGP. 12900 USD = 397,965.00 EGP. 500 USD = 15,425.00 EGP510 USD = 15,733.50 EGP. 33 USD = 1,018.05 EGP. 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 . 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. 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. 240 USD = 7,404.00 EGP. Peruse our daily story summaries to get the scoop on tomorrow's top stories ahead of the crowd. When is the best time to convert EGP to USD? Fixed-income investors hunting for tax efficiency may find these funds highly useful. 95 USD = 2,930.75 EGP. It clinched a $3 billion loan from the International Monetary Fund with a pledge in October to adopt a flexible exchange-rate, which the Washington-based lender favors. 10000 USD = 308,500.00 EGP10100 USD = 311,585.00 EGP. You wont receive this rate when sending money. 7200 USD = 222,120.00 EGP. 890 USD = 27,456.50 EGP. Agence France-Presse | AFP | Apr 18, 2023. 3000 USD = 92,550.00 EGP3100 USD = 95,635.00 EGP. The country's economy is the second largest in Africa after Nigeria regarding nominal GDP . 38 USD = 1,172.30 EGP. 83 USD = 2,560.55 EGP. The foreign currency black market thrived across Egypt over the past months, with local banks failing to securethe US dollars needed for import operations. Import-export firms turn to black market for US dollars. 7600 USD = 234,460.00 EGP. 5700 USD = 175,845.00 EGP. REUTERS/Mohamed Abd El GhanyReuters. A central bank auction of dollars was being held . You can also visit g.co/privacytools at any time. 12200 USD = 376,370.00 EGP. The level of trade in the black market had not significantly changed due to a lack of liquidity in the official market, a third trader said, speaking on condition of anonymity. 4700 USD = 144,995.00 EGP. This coincided with a new circular from the Banque . on PC press buttons Ctrl + D or click the star next to the browser bar at the top. The Egyptian pound was trading at 24.15 to the dollar on Tuesday, according to Refinitiv data. 97 USD = 2,992.45 EGP. 1 USD to EGP - Convert US Dollars to Egyptian Pounds Xe Currency Converter Convert Send Charts Alerts Amount 1.00$ From USD - US Dollar To EGP - Egyptian Pound 1.00 US Dollar = 30.90 5776 Egyptian Pounds 1 EGP = 0.0323564 USD We use the mid-market rate for our Converter. Disclaimer search Compare to EUR / EGP 33.9555 EUR0.078% JPY / EGP 0.2319 JPY0.12% GBP / EGP 38.5829. During 2022, the currency lost more than half its value. 16 USD = 493.60 EGP. He also delivers U.S. dollars stashed in plastic bags . Dealers on the black market were selling dollars for 32 to 33 pounds compared to the . 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. Egypt continues to face a foreign currency shortage despite two major devaluations this year. 11400 USD = 351,690.00 EGP. 7500 USD = 231,375.00 EGP. 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. 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. You will receive email notifications every time an article on your topic of interest is published on our websites. Apr 17, 2023, 01:35 UTC - Apr 17, 2023, 01:35 UTC EGP/USD close: 0 low: 0 high: 0. Saturday 1 January 2022. 4500 USD = 138,825.00 EGP. 10400 USD = 320,840.00 EGP. Us Dollar is available today at 23 Egyptian bank. Worthless Degrees Are Creating an Unemployable Generation in India, ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines, How a Surge of Sargassum Seaweed Is Changing the Beach Vacation, BlackRock Ditches60/40 Portfolio in New Regime of High Inflation, US Stock Futures Climb on China Growth Wagers: Markets Wrap. The currency symbol is . 9000 USD = 277,650.00 EGP9100 USD = 280,735.00 EGP. 4900 USD = 151,165.00 EGP. List of marketing cookies: Twitter pixel. Investment selection in your HSA doesn't have to be complicated. at 7:33am 11-4-2023. Meanwhile, the pound was down 14.1% year-to-date and in year-on-year terms. - Photo: Shutterstock, Viktorya Fivko. 59 USD = 1,820.15 EGP. 8700 USD = 268,395.00 EGP. In 3 weeks Dollar to Chilean Peso forecast on Tuesday, May, 9: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 5600 USD = 172,760.00 EGP. 26 USD = 802.10 EGP. USD to EGP forecast on Thursday, May, 4: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 35 USD = 1,079.75 EGP. The Egyptian pound is the official currency of Egypt. 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. it also depends on the amount of money you have for exchange. 39 USD = 1,203.15 EGP. 9900 USD = 305,415.00 EGP. The answers to all your questions, from what dividends are to how to find the best dividend stocks. 12000 USD = 370,200.00 EGP12100 USD = 373,285.00 EGP. Thus, banks are only accepting bids on U.S. dollars from those who need to import these supplies so that the supply of dollars is equal to their demand and, therefore, they can maintain the rate at LE 7.83 in the auction. The EGP Devaluation: A new beginning. The current EGP-USD interbank rate is now near its minimal level of the past two weeks. The central bank has said the rule will be gradually phased out by December. Cairo received the first tranche of the IMF loan in December, which led to a wave of "high prices." 10600 USD = 327,010.00 EGP. 520 USD = 16,042.00 EGP. Egypt's foreign cash reserves hit $40.909 billion by the end of . Send money online fast, secure and easy. We use the mid-market rate for our Converter. The widening gap with the official rate has led many analysts to believe Egypt may let the currency weaken yet again before the IMF meeting, possibly hiking interest rates as well. Egyptian law punishes . For the latest headlines, follow our Google News channel online or via the app. "Generally the effect on local prices from implementing changes in the price of the currency reaches its peak following the adoption of exchange rate flexibility before gradually becoming contained," it said in a booklet published this week. 45 USD = 1,388.25 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. 620 USD = 19,127.00 EGP. Dollar to Chilean Peso forecast on Wednesday, May, 17: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 730 USD = 22,520.50 EGP. 780 USD = 24,063.00 EGP. 14500 USD = 447,325.00 EGP. 50 USD = 1,542.50 EGP51 USD = 1,573.35 EGP. 460 USD = 14,191.00 EGP. 17 USD = 524.45 EGP. $1 USD = E15.7092. US Dollar 30.8380 30.9357 . | Dec. 09 . articles a month for anyone to read, even non-subscribers! 5500 USD = 169,675.00 EGP. Only a handful of major players are managing to get supplies, while many smaller flour mills may not survive. The price of the dollar recorded today in Egypt during the beginning of trading on Wednesday, April 12, 2023, some changes within Egyptian banks and the black market, as well as Egyptian exchange companies, and we show you in the following lines the price of the dollar in Egyptian banks, moment by moment, for everyone interested in buying and selling the US dollar and trading in hard .