The dollar price in Egypt on Wednesday, December 2, 2020


The average exchange rate of the dollar against the Egyptian pound stabilized in early trading on Wednesday, December 2, 2020, amid calm demand.

The U.S. currency has stabilized in banks, Al Ahli Egypt and Egypt, Credit Agricole, Suez Canal, Bloom, Export Development, Baraka, Arab Investment and Abu Dhabi Trade.

The highest price of the dollar came at 15.61 pounds for purchase, and 15.71 for sale, in Arab investment banks, export development, Suez Canal, ADIB, Al Baraka, International Commercial, HSBC and United Bank.

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Al Ahli Egyptian Banks (the largest government bank), Egypt (government), Al Ahli Greek, SAIB, recorded the lowest price of the dollar at 15.59 pounds to buy, and 15.69 pounds for sale.

At the Central Bank of Egypt, the average exchange rate of the dollar against the pound was 15.6075 pounds for purchase and 15.7075 pounds for sale. 

Since 2016, Egypt has successfully implemented an economic reform plan, in which it has been able to improve people's living conditions, control markets and control the currency market.

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Economic reforms have contributed to the availability of foreign exchange supply, with economic indicators improving by the testimony of many international institutions.

Egyptian Finance Minister Mohamed Moyat said Monday that his country expects to receive another $1.6 billion tranche of an IMF loan by the end of December.

The IMF said earlier that it had reached an expert-level agreement with Egypt after the first review of a $5.2 billion financing agreement.

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