120 USD = 3,702.00 EGP. The change for today 0.0000 Chilean Pesos, 0.00%. Historically, Egypt witnessed periods of severe shortage of foreign currencies, most notably in 1947 after its exit from the sterling area, and following the tripartite aggression against Egypt in 1956 and the freezing of foreign currency balances for Egypt abroad, and the need to finance its industrial and . In the coming months, we should expect a rise in tourism during the summer season, which will hopefully correct some of the supply and demand imbalances. Sign up for real-time alerts and be notified of new editions! 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. 400 USD = 12,340.00 EGP410 USD = 12,648.50 EGP. It is divided into 100 piastres, or ersh, or 1,000 milliemes. Live tracking and notifications + flexible delivery and payment options. 700 USD = 21,595.00 EGP710 USD = 21,903.50 EGP. In a statement issued by the cabinet on Friday, Kouchouk reiterated that the agreement with the IMF aimed to achieve a flexible exchange rate. 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. We use cookies to improve your experience on our site and to As a result, the black market in Egypt has flourished, raising concerns about dollar shortage. A foreign exchange shortage in Egypt is badly affecting companies engaged in foreign trade. 53 USD = 1,635.05 EGP. 970 USD = 29,924.50 EGP. The latestflotation, on Oct. 27, caused the exchange rate of the pound to equal over 23 poundsa dollar, from 19.67 pounds a dollar earlier in the day. 960 USD = 29,616.00 EGP. 18 USD = 555.30 EGP. 7400 USD = 228,290.00 EGP. . Egypt and the IMF announced the package at the staff level on Oct. 27. 980 USD = 30,233.00 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. In 1 week Dollar to Chilean Peso forecast on Tuesday, April, 25: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. It later rebounded to 29.60 to the dollar. 320 USD = 9,872.00 EGP. quoted today but for delivery and payment on a specific future date. USD EGP. by the website. Our Standards: The Thomson Reuters Trust Principles. 13200 USD = 407,220.00 EGP. 95 USD = 2,930.75 EGP. 1900 USD = 58,615.00 EGP. 25 USD 769.3436 EGP. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. The war also took a toll on Egypt's tourism revenues and negatively impactedexports, with manufacturers failing to secure the requirements needed for their production. "The increase of the dollar's exchange rate against the local currency caused stagnation in the sales and made the clients reluctant to conclude any deal," he added. 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. When is the best time to convert EGP to USD? 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. In 4 weeks USD to EGP forecast on Tuesday, May, 16: exchange rate 30.85 Chilean Pesos, maximum 31.31, minimum 30.39. For how long is the devaluation of the pound expected to continue? Lebanon Market Rates Today. For more information on the event, click here. 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 parallel market traders told Reuters on Tuesday. The pound dropped as low as 32.14 to the dollar from about 27.60 at the opening of trade on Wednesday. 4400 USD = 135,740.00 EGP. The stark contrast between the current low value of the EGP-USD exchange . The exchange rate is updated every 15 minutes. 59 USD = 1,820.15 EGP. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The embattled currency has fallen by a cumulative 51 per cent against the dollar since March. it also depends on the amount of money you have for exchange. Cairo received the first tranche of the IMF loan in December, which led to a wave of "high prices." 4900 USD = 151,165.00 EGP. 180 USD = 5,553.00 EGP. These cookies are required to ensure the reliability and security and our website. 120-day exchange rate history for EGP to USD Quick Conversions from Egyptian Pound to United States Dollar : 1 EGP = 0.0323358 USD. Date. 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. 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 . 68 USD = 2,097.80 EGP. 750 USD = 23,137.50 EGP. 28 USD = 863.80 EGP. 10700 USD = 330,095.00 EGP. 10500 USD = 323,925.00 EGP. 10900 USD = 336,265.00 EGP. The USDEGP spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the EGP. 890 USD = 27,456.50 EGP. 24 USD = 740.40 EGP. show you personalized advertising. 490 USD = 15,116.50 EGP. Wallet Investor's forecast for 2025 against the euro . 7500 USD = 231,375.00 EGP. You can modify or delete your notifications or summaries in your account. 3700 USD = 114,145.00 EGP. How does the black market system determine to increase the dollar? As the yawning gap between the official and parallel market rates for Egypts pound dwindled by early afternoon in Cairo, a number of traders said they were pausing operations and waiting until the end of the day to assess the situation. 50 USD = 1,542.50 EGP51 USD = 1,573.35 EGP. 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. 880 USD = 27,148.00 EGP. 7000 USD = 215,950.00 EGP7100 USD = 219,035.00 EGP. Saturday 1 January 2022. The state body that provides wheat for Egypt's subsidised bread programme has agreed to supply private millers to help them through a crisis that has shut most of their mills. 38 USD = 1,172.30 EGP. Last week, the black-market rate was . Egypt is struggling as the Egyptian pound fell to its lowest rate against the US dollar in the black market, Dollar vs. Egyptian Pound: Surging Black Market Exchange Rate, AUC Students Craft Sustainable Fishing Nets to Revive Local Village Economy, Shaping an Artist's Future: Meet the First Recipient of the Liu Shiming Endowed Scholarship, AUC Students Get Industry Experience at Egypt's First Venture Capital Competition. 25 USD = 771.25 EGP. Powering commercial grade rates at 300+ companies worldwide. Current USD to EGP exchange rate equals 30.8500 Chilean Pesos per 1 Dollar. The industry leader for online information for tax, accounting and finance professionals. 5 USD = 154.25 EGP. on Android tap the 3-dots icon at the top right. He also delivers U.S. dollars stashed in plastic bags . on iPhone/iPad tap the Share icon . 97 USD = 2,992.45 EGP. What can we expect in the coming months? Egypt's latest flotation of its currency may rein in its thriving foreign currency black market, but economists cannot see an end to this market in the near future. Keep your portfolio safe in 2023 with these 10 blue-chip bargains. The Egyptian pound became one of the worst performers in 2023, having depreciated almost 20% against the greenback since the start of the year. 78 USD = 2,406.30 EGP. 6 USD = 185.10 EGP. Prioritize your target industries for weekly review: We also offer team plans. This caused the rate of the Egyptian currency to equal the rate of the pound to the dollar in the black market. US . The move was made in an attempt to end the black market in currency and revive the country's struggling economy. 100 USD = 3,085.00 EGP110 USD = 3,393.50 EGP. Dealers on the black market were selling dollars for 32 to 33 pounds compared to the official rate of about 24.6 to the dollar. 3800 USD = 117,230.00 EGP. 37 USD = 1,141.45 EGP. Bloomberg Surveillance, covering the latest news in finance, economics and investments. 16 USD = 493.60 EGP. This is for informational purposes only. 4500 USD = 138,825.00 EGP. 230 USD = 7,095.50 EGP. List of marketing cookies: Twitter pixel. Yesterday's rate 30.8500. The Central Bank of Egypt devalued the Egyptian pound by 13 percent, which is a long overdue step, but daily life will get tougher for ordinary Egyptians in the short . The Central Bank also decised to raise the interest rate by 300 basis points, or 3 percent. 6400 USD = 197,440.00 EGP. 69 USD = 2,128.65 EGP. 3900 USD = 120,315.00 EGP. 9400 USD = 289,990.00 EGP. The US dollar/Egyptian pound rate spiked above 19 on 2 August and has stayed at that level since. 27 USD = 832.95 EGP. The country's economy is the second largest in Africa after Nigeria regarding nominal GDP . CAIRO, March 28 (Reuters) - The Egyptian pound lost ground on the black market again in recent days in a sign that halving its official value over the past year could still not be enough. 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. Today's range: 30.7500-30.9499. Updated 2 hours ago. The central bank sold $38.6m to banks with a cut-off . Dealers on the black market were selling dollars for 32 to 33 pounds compared to the official rate of about 24.6 to the dollar. 470 USD = 14,499.50 EGP. These are the highest points the exchange rate has been at in the last 30 and 90-day periods. Dollar to Chilean Peso forecast on Friday, May, 5: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. 420 USD = 12,957.00 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. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Dollar to Chilean Peso forecast on Wednesday, May, 17: exchange rate 30.95 Chilean Pesos, maximum 31.41, minimum 30.49. Our currency rankings show that the most popular Egyptian Pound exchange rate is the EGP to USD rate. 130 USD = 4,010.50 EGP. Text. 47 USD = 1,449.95 EGP. 12600 USD = 388,710.00 EGP. Concise, actionable scenarios and predictions from top regional experts. 1000 USD = 30,850.00 EGP1100 USD = 33,935.00 EGP. The economy of Egypt used to be a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954-1970). This is a reason for the hike in black market activity. Find out more about our subscription offers. 12700 USD = 391,795.00 EGP. 26 USD = 802.10 EGP. 67 USD = 2,066.95 EGP. Africa Intelligence brings you exclusive coverage of the major political, economic and diplomatic issues at stake on the African continent, identifying power players on the rise and low-frequency signals on the horizon. 14 USD = 431.90 EGP. 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. It is divided into 100 qirsh (), or 1000 malleem ( ). "This will happen until there is a fresh supply of dollars to Egypt, one that makes the banks capable of meeting the demand for the US currency," Shafie said. The Egyptian pound was trading at 24.15 to the dollar on Tuesday, according to Refinitiv data. 10600 USD = 327,010.00 EGP. 2900 USD = 89,465.00 EGP. Agence France-Presse | AFP | Apr 18, 2023. View charts. 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. 680 USD = 20,978.00 EGP. 8500 USD = 262,225.00 EGP. Since early November, the central bank has been allowing the official rate to weaken incrementally by an average of about 0.01 pounds per day. 730 USD = 22,520.50 EGP. 13 USD = 401.05 EGP. This service is completely free of charge. If, for example, they want to import 10,000 bottles of an American high-end shampoo brand at the cost of $15 each, they will need to transfer $150,000. 850 USD = 26,222.50 EGP. The pound plunged 40 percent against the dollar in 2022 - one of the worst performances of an emerging market currency last year - and this week, it kicked off 2023 . Egyptian pound testing $20 mark amid soaring inflation. FILE - A man displays a 100 U.S. dollar and 50 Egyptian pound notes in Cairo. 30.8500 0.00% Currency Converter Pair Sum = 3,085.00 USD to EGP forecast for tomorrow, this week and month. The Most Important Ages for Retirement Planning: Age 59 , The Most Important Ages for Retirement Planning: Age 65, The Most Important Ages for Retirement Planning: Age 66, The Most Important Ages for Retirement Planning: Age 70 . larger amounts mean better deals. 19 USD = 586.15 EGP. In a challenging market, it helps to ignore day-to-day volatility. Bassiouny: It is very difficult to regulate the black market system, but its activity was limited last year when the CBE imposed a cap on deposits. You can also visit g.co/privacytools at any time. 6300 USD = 194,355.00 EGP. 690 USD = 21,286.50 EGP. The foreign currency black market thrived across Egypt over the past months, with local banks failing to securethe US dollars needed for import operations. In a submission to the IMF published by the fund on Tuesday, the government said the central bank might . Exclusive news, data and analytics for financial market professionals, Reporting by Patrick Werr Apr 17, 2023, 01:35 UTC - Apr 17, 2023, 01:35 UTC EGP/USD close: 0 low: 0 high: 0. Black market boom since 1967. Region has its effects too. 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. 170 USD = 5,244.50 EGP. on PC press buttons Ctrl + D or click the star next to the browser bar at the top. At the top right equal the rate of about 24.6 to the dollar the staff level on 27! 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