The price of the euro stabilized today in Egypt, on the morning of Sunday, May 22, 2022, on the screens of the Central Bank and government and private banks.
The price of the euro today in Egypt
The average price of the European euro, according to the Central Bank of Egypt website, recorded about 19.18 pounds for purchase, and 19.27 pounds for sale.
The price of the euro in the National Bank of Egypt remained at 19.07 pounds for purchase, and 19.37 pounds for sale.
In Banque Misr, the price of the euro remained at about 19.07 pounds for purchase, and 19.38 pounds for sale.
At the Commercial International Bank, the price of the euro stabilized at about 19.08 pounds for purchase, and 19.33 pounds for sale.
interest rate hike
The Central Bank of Egypt raised key interest rates by 200 basis points at the Monetary Policy Committee meeting Thursday, May 19, 2022, in an effort to contain inflation after prices jumped at the highest pace in three years.
The committee raised the overnight lending rate to 12.25% from 10.25%, and raised the overnight deposit rate to 11.25% from 9.25%.
The central bank attributed the interest rate hike to several reasons, including the depreciation of the currency and after the Ukrainian crisis led to a rise in wheat prices. Raising is a necessary measure to control inflationary pressures and is consistent with achieving the goal of price stability in the medium term.
The central bank also raised the credit and discount rate by 200 basis points to 11.75%.
The price of the dollar and the pound sterling today in Egypt
The average price of the dollar in Egypt, according to the data of the Central Bank of Egypt website this morning, was about 18.22 pounds for purchase, and 18.30 pounds for sale, which is the same price yesterday.
In the National Bank of Egypt, the largest government bank, the price of the dollar remained at 18.23 pounds for purchase, and 18.29 pounds for sale, which are the same prices as yesterday.
At Banque Misr, the same rates were repeated by the National Bank.
The price of the dollar at the Commercial International Bank stabilized at 18.24 pounds for purchase, and 18.31 pounds for sale, which is the same price as yesterday.
The average price of the pound sterling, in the banking market, according to the Central Bank of Egypt, was about 22.63 pounds for purchase, and 22.75 pounds for sale.
The prices of the riyal, dirham and dinar today in Egypt
The average price of the Saudi riyal, according to the Central Bank of Egypt’s website, stabilized at the level of 4.85 pounds for purchase, and 4.88 pounds for sale.
In the National Bank of Egypt, the price of the Saudi riyal remained at the level of 4.85 pounds for purchase, and 4.87 pounds for sale.
At Banque Misr, the same rates were repeated by the National Bank.
The price of the Saudi riyal at the Commercial International Bank did not change, recording a level of 4.85 pounds for purchase, and 4.88 pounds for sale.
The average price of the UAE dirham, in the banking market, according to the Central Bank of Egypt, remained at about 4.96 pounds for purchase, and 4.98 pounds for sale.
The average price of the Kuwaiti dinar, according to the Central Bank of Egypt’s website, stabilized at 59.38 pounds for purchase, and 59.82 pounds for sale.