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The Price of the Saudi Riyal in Egypt on Wednesday, December 9, 2020


 

The average exchange rate of the Saudi riyal against the Egyptian pound rose on Wednesday, in most transactions of banks and exchange companies.


The price of the dollar, the euro, the pound sterling and the Kuwaiti dinar increased on Wednesday, while the price of the Uae dirham, according to the average currency rates in the Egyptian market on the central bank's website, stabilized.


The average price of the Saudi riyal against the Egyptian pound rose to 4.10 pounds to buy and 4.20 pounds for sale, according to a survey conducted by Al Ain News in 24 banks.


Arab and foreign exchange rates are moving slightly against the Egyptian pound amid a significant stability in the money market.


On the Central Bank of Egypt's website, the average price of the Saudi riyal against the Egyptian pound has stabilized at about 4.16 pounds for purchase and about 4.19 pounds for sale.


The Price of the Saudi Riyal, in the National Bank of Egypt (the largest government bank) at about 4.07 pounds for purchase, and about 4.18 pounds for sale.


Highest price for the rial

The Saudi riyal recorded the highest purchase rate in four banks at around EGP 4.17, namely Mashreq Bank, Blom Egypt, Odeh and Arab International Bank.


The highest selling price at Al Baraka Bank came at around 4.22 pounds.


Remittances from overseas workers

Remittances from Egyptians working abroad rose by $1.3 billion to $8 billion from July to the end of September.


In a statement on Monday, the Central Bank of Egypt said remittances increased in September to $2.7 billion from $2.3 billion in the same month in 2019.


Remittances from Egyptians working abroad contribute significantly to Egypt's cash reserves.


The Central Bank of Egypt announced Sunday that the country's foreign exchange reserves stabilized in November at $39.22 billion.


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