550 USD = 16,967.50 EGP. A pioneer on the web since 1996, Africa Intelligence is the leading news site on Africa for professionals. USD-EGP FORECAST 2023, 2024 - 2027 In Arabic. CAIRO (Reuters) - The gap between the official and black market price of dollars in Egypt has narrowed significantly since the central bank announced a flexible exchange rate policy, three. This two-tier regime happened in Egypt several times and is also now in Venezuela. Egypt continues to face a foreign currency shortage despite two major devaluations this year. USD to EGP forecast on Thursday, May, 18: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 50 USD = 1,542.50 EGP51 USD = 1,573.35 EGP. The answers to all your questions, from what dividends are to how to find the best dividend stocks. 870 USD = 26,839.50 EGP. USD to EGP forecast on Monday, April, 24: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. In 2 weeks USD to EGP forecast on Tuesday, May, 2: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 330 USD = 10,180.50 EGP. "Leaving the exchange rate to be decided by the supply and demand mechanism will eradicate the black market that poses dangers to the economy.". 62 USD = 1,912.70 EGP. Shahd El Helbawy sees mysteries to be explored through her most recent artistic pursuit: sculpting. Find out more about our subscription offers. The currency code for US Dollars is USD. Egyptian law punishes . 66 USD = 2,036.10 EGP. Subscribe to our daily newsletter to get investing advice, rankings and stock market news. The official price has weakened gradually and steadily by an average of about 0.01 Egyptian pounds ($0.0005) to the dollar per business day since May 25. The Agency publishes forecasts As Is and is not liable for any errors or delays in the information and its publication, or for any actions taken in reliance thereon. 12300 USD = 379,455.00 EGP. 13500 USD = 416,475.00 EGP. Exclusive news, data and analytics for financial market professionals, Reporting by Patrick Werr The US dollar to Egyptian pound exchange rate on Monday recorded a low of LE15.63 for purchase and LE15.73 for sale, and LE15.65 for purchase and LE15.75 for sale as the highest price. 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. 60 USD = 1,851.00 EGP61 USD = 1,881.85 EGP. 14600 USD = 450,410.00 EGP. 14500 USD = 447,325.00 EGP. 5500 USD = 169,675.00 EGP. 5 USD = 154.25 EGP. 1000 USD = 30,850.00 EGP1100 USD = 33,935.00 EGP. Today's range: 30.7500-30.9499. 780 USD = 24,063.00 EGP. USD to EGP forecast on Thursday, May, 4: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. During the final quarter of 2021, non-resident investment in Egypt's local bond market stood at $28.8 billion, approximately 56 percent of the central bank's foreign currency reserves at the time. The flotation came only hours before the CBE announced the signing of a $3 billion loan dealwith the International Monetary Fund. 8400 USD = 259,140.00 EGP. 3600 USD = 111,060.00 EGP. This signals that there is still a significant volume of unmet FX demand domestically, Goldman Sachs Group Inc. analysts including Kamakshya Trivedi said in a report. The Egyptian pound is the official currency of Egypt. Yesterday's rate 30.8500. 9900 USD = 305,415.00 EGP. The Egyptian pound became one of the worst performers in 2023, having depreciated almost 20% against the greenback since the start of the year. [1/2]An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. 94 USD = 2,899.90 EGP. 9600 USD = 296,160.00 EGP. 8800 USD = 271,480.00 EGP. The Central Bank also decised to raise the interest rate by 300 basis points, or 3 percent. 7200 USD = 222,120.00 EGP. 6300 USD = 194,355.00 EGP. Analysts at Fitch Solutions expect the Egyptian pound to weaken against the dollar from EGP 19.67 on October 18, ending the year close to EGP 21. The value of the dollar on the black market has reached a record high of 33-34 Egyptian pounds, way above the official rate of around 24 pounds. USD to EGP forecast on Monday, May, 8: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 72 USD = 2,221.20 EGP. This is for informational purposes only. Keep your portfolio safe in 2023 with these 10 blue-chip bargains. Optimistic price target: 31.4865668833 Pessimistic price target: 31.44631872682 Target rates of the currency pair USD/EGP as of 17-04-2023 Major disruption in Egypt's wheat processing sector continues as the country awaits an IMF loan due next month. For anyone who needs to get a hold of dollars, banks are a limited option. 10300 USD = 317,755.00 EGP. Dollar to Chilean Peso forecast on Wednesday, May, 17: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 280 USD = 8,638.00 EGP. For this particular reason, the black market has flourished, since importers can exchange and transfer foreign currency without strict bank restrictions. Intimate in-person access to policy and business VIPs. "However we do not expect a devaluation to the 32-34 handle as now implied by the London listings or the black market.". Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Any usage of materials must be accompanied by a reference to the source. Stay informed anytime, anywhere! 70 USD = 2,159.50 EGP71 USD = 2,190.35 EGP. 93 USD = 2,869.05 EGP. 2021 Al-Monitor, LLC. Bassiouny: Banks, which operate under the authority of the CBE, are only providing dollars to businesses for importing staple commodities (wheat, corn and flour), energy and pharmaceuticals. These cookies help up us assess how effective our Twitter campaigns are to promote our publication and our services. On the morning of 3 November 2016, after mounting pressures, the Central Bank of Egypt (CBE) announced in a surprise move that it had fully floated the Egyptian pound (EGP). The EGP Devaluation: A new beginning. dollar.. Most dollar exchange operations happen on the streets and on social media, as importers and those needing greenbacks for travel or to pay study fees seek to obtain them outside of the banking system. Dollar to Chilean Peso forecast on Monday, May, 1: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. Black market boom since 1967. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. Egypt's government has launched an initiative to reduce the diplomatic corps' budget. Egyptian Pound to US Dollar. Yesterday's rate 30.8500. 11300 USD = 348,605.00 EGP. 6400 USD = 197,440.00 EGP. That is about 18.5% weaker than its rate before a sharp depreciation last Thursday, when Egypt said it would adhere to a "durably flexible" exchange rate as a new International Monetary Fund loan was announced, and about 35% weaker than its level at the start of the year. Non-personalized content is influenced by things like the content youre currently viewing, activity in your active Search session, and your location. 270 USD = 8,329.50 EGP. 5000 USD = 154,250.00 EGP5100 USD = 157,335.00 EGP. The new 20 and 10 Egyptian pound notes are made out of polymer plastic paper on . Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 3000 USD = 92,550.00 EGP3100 USD = 95,635.00 EGP. Send money online fast, secure and easy. Dollar to Chilean Peso forecast on Monday, May, 15: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. 540 USD = 16,659.00 EGP. 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. 890 USD = 27,456.50 EGP. 400 USD = 12,340.00 EGP410 USD = 12,648.50 EGP. 12900 USD = 397,965.00 EGP. Listing Buffett's best quotes is like picking ice cream flavors from a wide selection you really can't go wrong. Aug. 29, 2016 5:22 pm ET. Get growth and income with these double-threat stocks. Transfers. Egyptian pound testing $20 mark amid soaring inflation. 5600 USD = 172,760.00 EGP. 10 USD = 308.50 EGP11 USD = 339.35 EGP. The currency code for Egyptian Pounds is EGP. This comes as goods continue to accumulate in the nation's ports, failing to gain entry into Egypt, with the banks failing to provide the dollars necessary for their release. Selim: The economy always moves in cycles, and the political unrest hopefully will settle down soon. 580 USD = 17,893.00 EGP. 30.75 EGP. 50 USD 1,538.6872 EGP. 3400 USD = 104,890.00 EGP. The Egyptian pound was virtually fixed at about 15.70 pounds against the U.S. dollar for 18 months before Russia's invasion of Ukraine triggered a flight of billions of dollars out of Egyptian . 18 USD = 555.30 EGP. 3700 USD = 114,145.00 EGP. Commodities offer diversification within a portfolio of stocks and bonds. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 13200 USD = 407,220.00 EGP. 1200 USD = 37,020.00 EGP. Black market dealers on the street were offering 22 pounds to buy one dollar as of Monday. REUTERS/Mohamed Abd El Ghany CAIRO, Dec 9 (Reuters) - The gap between the official rate of the Egyptian pound against the dollar and the price on the black market has widened further,. Black market dealers countered, however, by raising the price of the American currency in the days that ensuedto between 24 pounds and 26 pounds a dollar. Dollar to Chilean Peso forecast on Wednesday, May, 3: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 10800 USD = 333,180.00 EGP. 35 USD = 1,079.75 EGP. It's the Black market bro no set numbers there. 39 USD = 1,203.15 EGP. When is the best time to convert EGP to USD? The exchange rate is updated every 15 minutes. on this page is accurate as of the posting date; however, some of our partner offers may have expired. The foreign currency black market thrived across Egypt over the past months, with local banks failing to securethe US dollars needed for import operations. 14300 USD = 441,155.00 EGP. 480 USD = 14,808.00 EGP. For how long is the devaluation of the pound expected to continue? . 28 USD = 863.80 EGP. 17 USD = 524.45 EGP. 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." Egypt says it will use this money to buy its needs from the international market and refueling its economic development plans. Egypt 's government has launched An initiative to reduce the diplomatic corps ' usd to egyptian pound black market get a hold dollars... 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