Al-Marsad newspaper: The Saudi riyal exchange rate was recorded, today, Monday; A significant rise once morest the Egyptian pound, following its sudden and dramatic fall once morest the US dollar for the first time in three years.
And the value of the Saudi riyal reached 4.90 once morest the Egyptian pound, and before the rise it was equal to only 4.16, to approach the levels of 2014.
In evening trading, the exchange rate of the US dollar rose, reaching 18.22 pounds per dollar, an increase of 15.9%.
And the “Central Bank” of Egypt announced, in an extraordinary meeting, a decision to raise the interest rate by 100 basis points, to be 9.25% for deposits and 10.25% for one-night lending.
