All rights reserved. 320 USD = 9,872.00 EGP. 530 USD = 16,350.50 EGP. 7 USD = 215.95 EGP. BEIRUT: The Lebanese pound hit a new low on the black market, reaching 14,000 for $1 after it had been somewhat stable in recent weeks at 12,000. 11800 USD = 364,030.00 EGP. During 2022, the currency lost more than half its value. USD-EGP FORECAST 2023, 2024 - 2027 In Arabic. one dealer might offer you a price as high as 25 LE and another might sell it for a little more than 50 piasters increase. The content 4300 USD = 132,655.00 EGP. The Egyptian pound is the official currency of Egypt. 23 USD = 709.55 EGP. 300 USD = 9,255.00 EGP310 USD = 9,563.50 EGP. 450 USD = 13,882.50 EGP. 12800 USD = 394,880.00 EGP. 100 USD = 3,085.00 EGP110 USD = 3,393.50 EGP. 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Egypt's Black Market Blues. Egypt has been facing a shortage of foreign currency since the beginning of the conflict in Ukraine. You wont receive this rate when sending money. Recently, the International Monetary Fund (IMF) and Egypt have reached an agreement for EGP 68 billion (USD 3 billion), which aims to "safeguard macroeconomic stability and debt sustainability, improve Egypt's resilience to external shocks." Transfers. The foreign currency black market thrived across Egypt over the past months, with local banks failing to securethe US dollars needed for import operations. Similarly, an analysis by Trading Economics indicates that pound could trade at 19.93 by the end of this quarter and 21.21 in 12 months' time. 30 USD = 925.50 EGP31 USD = 956.35 EGP. Powering commercial grade rates at 300+ companies worldwide. 480 USD = 14,808.00 EGP. March 14, 2023, 3:17 AM. During the rule of president Abdel Fattah el-Sisi (2014-present), the economy follows Egypt's 2030 Vision.The policy is aimed at diversifying Egypt's economy. 520 USD = 16,042.00 EGP. Click here to see more amounts up to 15,000. These currency charts use live mid-market rates, are easy to use, and are very reliable. 580 USD = 17,893.00 EGP. The level of trade in the black market had not significantly changed due to a lack of liquidity in the official market, a third trader said, speaking on condition of anonymity. 7700 USD = 237,545.00 EGP. Region has its effects too. While countless firms stand to benefit from AI, these stocks have AI and automation as a central part of their businesses. 7800 USD = 240,630.00 EGP. 8 USD = 246.80 EGP. All quotes delayed a minimum of 15 minutes. articles a month for anyone to read, even non-subscribers! The widening gap with the official rate has led many analysts to believe Egypt may let the currency weaken yet again before the IMF meeting, possibly hiking interest rates as well. 820 USD = 25,297.00 EGP. This situation particularly affects Algiers, which has been relying on supplies from this region to compensate for its halt in French purchases, but it is also of consequence to Egypt. 28 USD = 863.80 EGP. The International Monetary Fund is due on Dec. 16 to review Egypt's request for a $3 billion Extended Fund Facility to help shore up its finances. Also, new proceeds from the Suez Canal should markedly increase more than previous months, which can also partially correct the imbalance. The central bank has said the rule will be gradually phased out by December. 120-day exchange rate history for EGP to USD Quick Conversions from Egyptian Pound to United States Dollar : 1 EGP = 0.0323358 USD. 65 USD = 2,005.25 EGP. (Reporting by Mahmoud Salama, Patrick Werr and Aidan Lewis; Editing by Jan Harvey). Welcome to the Dollars to Egyptian Pounds page, updated every minute between Sunday 22:00 and Friday 22:00 (UK) 1 USD = 30.67 EGP Save 3-5% on your Dollars to Egyptian Pounds money transfer today The Dollar to Egyptian Pound exchange rate (USD EGP) as of 15 Apr 2023 at 9:47 AM. Dollar to Chilean Peso forecast by day. 130 USD = 4,010.50 EGP. 8600 USD = 265,310.00 EGP. 72 USD = 2,221.20 EGP. Intimate in-person access to policy and business VIPs. 74 USD = 2,282.90 EGP. 25 USD 769.3436 EGP. Agence France-Presse | AFP | Apr 18, 2023. The US dollar/Egyptian pound rate spiked above 19 on 2 August and has stayed at that level since. The price of the dollar recorded today in Egypt during the beginning of trading on Wednesday, April 12, 2023, some changes within Egyptian banks and the black market, as well as Egyptian exchange companies, and we show you in the following lines the price of the dollar in Egyptian banks, moment by moment, for everyone interested in buying and selling the US dollar and trading in hard . Since Thursday the gap between the black market and official rates for most transactions has shrunk to just five or ten Egyptian piasters, one of the traders said, though a second trader said large purchases of dollars were still being made on the black market at rates as high as 26 Egyptian pounds. 50 USD 1,538.6872 EGP. 84 USD = 2,591.40 EGP. Egypts black market in US dollars appeared to screech to a halt Wednesday, as traders struggled to compete with a plunge of as much as 14% in the official rate for the local currency. 5600 USD = 172,760.00 EGP. on this page is accurate as of the posting date; however, some of our partner offers may have expired. 42 USD = 1,295.70 EGP. 13400 USD = 413,390.00 EGP. Xe Rate Alerts. Dollar to Chilean Peso forecast on Monday, May, 15: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. Track outages and protect against spam, fraud, and abuse, Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services, Deliver and measure the effectiveness of ads, Show personalized content, depending on your settings, Show personalized ads, depending on your settings. 58 USD = 1,789.30 EGP. . 870 USD = 26,839.50 EGP. View charts. 30.75 EGP. Cairo received the first tranche of the IMF loan in December, which led to a wave of "high prices." Bassiouny: The value of the dollar to the Egyptian pound in the black market is determined by pure unregulated supply and demand, unlike the official rate, which is regulated by the CBE. larger amounts mean better deals. Egypt has struggled to narrow the gap between the pounds black-market and official rates even after the currencys third devaluation since March. Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. 170 USD = 5,244.50 EGP. The Egyptian pound weakened to a shocking rate of 13 against the U.S. dollar on the black market on Tuesday, at least 42 percent weaker than the Central Bank's official rate of 8.78. 9500 USD = 293,075.00 EGP. Top Egypt stories in your inbox each week. Exchange Rates in banque misr. 45 USD = 1,388.25 EGP. on Android tap the 3-dots icon at the top right. by the website. 4500 USD = 138,825.00 EGP. For anyone who needs to get a hold of dollars, banks are a limited option. Dollar to Chilean Peso forecast on Friday, April, 21: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 13800 USD = 425,730.00 EGP. This month, the Egyptian pound fell to its lowest rate against the U.S. dollar in the black market, with the dollar increasing to LE 9.60 The increase of the dollar comes as a result of attempts by the Central Bank of Egypt (CBE) to regulate the exchange rate at LE 7.83 in order to avoid larger swings in the value of the currency. 440 USD = 13,574.00 EGP. These cookies are required to ensure the reliability and security and our website. Fuel. The Egyptian pound and US dollar banknotes are seen in this photo taken on Aug. 25, 2022. The banks have already raised the interest rate on US dollar saving certificates by 100% to 5%, from 2.50% earlier. 1700 USD = 52,445.00 EGP. Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region. 12000 USD = 370,200.00 EGP12100 USD = 373,285.00 EGP. 4200 USD = 129,570.00 EGP. Read our free content to get a better idea of our editorial identity. 5800 USD = 178,930.00 EGP. Get growth and income with these double-threat stocks. The first three weeks of Russia's full-scale invasion of Ukraine in February led to . For more information on the event, click here. 59 USD = 1,820.15 EGP. 95 USD = 2,930.75 EGP. 6400 USD = 197,440.00 EGP. On 1 April, the currency traded at EGP 18.28 per USD, which marked a 14.1% depreciation from the same day a month prior. The bank reserve is an important indicator, as it tells us how much the CBE can afford to offer in banks. 190 USD = 5,861.50 EGP. 3600 USD = 111,060.00 EGP. But this is a stop-gap measure, with the country hoping that an IMF loan will provide long-term relief. This means that importers will need LE 1,440,000 at the exchange of LE 9.60. 94 USD = 2,899.90 EGP. 12700 USD = 391,795.00 EGP. 8900 USD = 274,565.00 EGP. Text Alerts - Be the first to get breaking news, exclusives, and PRO content. 13 USD = 401.05 EGP. 920 USD = 28,382.00 EGP. 9900 USD = 305,415.00 EGP. Hajjar on the Saudi-Iranian agreement: Either we are partners in the settlement, or it will be at our expense! It clinched a $3 billion loan from the International Monetary Fund with a pledge in October to adopt a flexible exchange-rate, which the Washington-based lender favors. 970 USD = 29,924.50 EGP. Starbucks was founded in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker at Seattle's Pike Place Market.During the early 1980s, they sold the company to Howard Schultz who - after a business trip to Milan, Italy - decided to convert the coffee bean store into a coffee shop serving espresso-based drinks.As chief executive officer from 1986 to 2000, Schultz's first . 14200 USD = 438,070.00 EGP. As part of the Transforming Egypt seminar series organized by the School of Business, Bassiouny will moderate a panel discussion titled EGP Devaluation and FX Scarcity in Egypt on Thursday, March 10. 4600 USD = 141,910.00 EGP. Can floating Egyptian pound kill foreign currency black market? The pound dropped as low as 32.14 to the dollar from about 27.60 at the opening of trade on Wednesday. Tap Add to homescreen, then Add. How has the CBE managed to keep the dollar stable at LE 7.83, while the black market has increased the dollar to LE 9.60? A cookie is a text file placed on the hard drive of your terminal (computer, smart phone, tablet, etc.) Popular US Dollar (USD) Pairings. 9200 USD = 283,820.00 EGP. on iPhone/iPad tap the Share icon . The pound devaluation is a symptom of the problem and not the problem itself. 290 USD = 8,946.50 EGP. 92 USD = 2,838.20 EGP. Street level vendors were buying dollars for around 30 pounds. $1 USD = E15.7072. 98 USD = 3,023.30 EGP. A pioneer on the web since 1996, Africa Intelligence is the leading news site on Africa for professionals. USD to EGP forecast on Wednesday, April, 26: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. Do you think an economic plan should be put in place in order to save the value of the Egyptian pound? Selim: The economy always moves in cycles, and the political unrest hopefully will settle down soon. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 7500 USD = 231,375.00 EGP. 77 USD = 2,375.45 EGP. REUTERS/Mohamed Abd El Ghany, Best Parent Student Loans: Parent PLUS and Private. 930 USD = 28,690.50 EGP. List of marketing cookies: Twitter pixel. 8200 USD = 252,970.00 EGP. US Dollar to Egyptian Pound Monthly Exchange Rates. 46 USD = 1,419.10 EGP. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. A foreign exchange shortage in Egypt is badly affecting companies engaged in foreign trade. "The war has had negative effects on the national economy by draining foreign currency reserves and slowing production down," Mohamed Abdel Hamid, member of the Economic Committee in the House of Deputies (lower chamber of parliament), told Al-Monitor. It is divided into 100 piastres, or ersh, or 1,000 milliemes. 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