The price of the euro today in Egypt continued to decline against the pound during trading Thursday, September 29, 2022 at the Central Bank and banks operating in Egypt.
Does Egypt benefit from the decline of the euro?
Financial market experts believe that the decline in the price of the euro globally against the dollar, would reduce the debt bill denominated in euros, but it is a limited decrease in the value of debt installments and interests, especially since the Egyptian pound has lost 30% of its value so far, since last March when it reduced it. The Central Bank of Egypt is 17% so far.
Banking experts pointed out that the euro import bill in Egypt is limited against the dollar’s strength in importing strategic consumer goods such as wheat, grain and gasoline.
Currency rates today in the Central Bank of Egypt
External debt maturities on Egypt
The Central Bank has issued a table of the size of the foreign debt installment and interest entitlements on Egypt, and Egypt is scheduled to pay $83.8 billion during the next five years.
Egypt is committed to paying $17.6 billion during the next year 2023, including $9.3 billion in the first half, and $8.3 billion in the second half of 2023.
As for the debt installments and interests on Egypt in 2024, Egypt is committed to paying $24.2 billion, including $10.9 billion during the first half, and $13.3 billion during the second half of the year.
During the year 2025, Egypt is committed to paying $15.1 billion of its debt installments and interests, divided into $9.3 billion during the first half and $5.8 billion in the second half of 2025.
During the next 2026, Egypt will pay installments and interest on debts worth 16.8 billion dollars, and during 2027 the Egyptian government will have to pay 10.1 billion dollars.
The price of the euro today in Egypt
The price of the euro fell today in Egypt at the Central Bank to 18.67 pounds for purchase and 18.75 pounds for sale, compared to 18.74 pounds for purchase, and 18.85 pounds for sale yesterday, according to the Central Bank bulletin “cbe.org.eg”.
The price of the euro today in the National Bank of Egypt
The price of the euro today in the National Bank of Egypt (the largest government bank) scored about 18.57 pounds for purchase, and 18.73 pounds for sale, compared to 18.65 pounds for purchase, and 18.87 pounds for sale at the end of trading yesterday, Wednesday.
The price of the euro against the pound in Banque Misr
The price of the euro today in Banque Misr, during the trading of Thursday morning, September 29, 2022, amounted to about 18.57 pounds for purchase, and 18.73 pounds for sale.
How much is the euro today in Egyptian banks?
The price of the euro against the Egyptian pound at CIB recorded about 18.59 pounds for purchase, and 18.78 pounds for sale.
And the price of the euro today against the pound in the Bank of Alexandria recorded about 18.57 pounds for purchase, and 18.75 pounds for sale.
The price of the euro today in Saib Bank was about 18.55 pounds for purchase, and 18.76 pounds for sale, and the price of the euro today in EGY Bank recorded about 18.61 pounds for purchase, and 18.78 pounds for sale.