The Egyptian economy is becoming more market-orientated. The Egyptian Pound is subdivided into smaller currency denomination known as qirsh or millimes. Converted to EGP 1.00000 GBP 39.26770 EGP Mid-market exchange rate at 00:19 UTC Track the exchange rate Send money Save when you send money abroad GBP to EGP conversion chart 1 GBP 39.26770 EGP As of 1 min ago, 1 GBP 39. The symbol used for the EGP is E or in Arabic (. The Egyptian pound, trading at 19.61 to the dollar on Wednesday, was expected to fall to 21.16 by the end of the current fiscal year, and as far as 22.08 by the end of the next, according to a. "Key is to unify the exchange rate, which will require eliminating the FX backlog and ensuring demand for FX is met going forward," he added.Įgypt's two main state banks, Banque Misr and National Bank of Egypt, said in statements earlier on Wednesday they were offering one-year savings certificates with a return of 25%, a move that often accompanies a devaluation.Įgypt announced last week it had phased out a system of mandatory letters of credit for importers it imposed in February that further aggravated the import crisis. The official currency of Egypt is the Egyptian Pound (EGP).
"Whether this resolves the FX liquidity issues that Egypt has been facing will depend on whether we see significant FX inflows in the near term," said Farouk Soussa of Goldman Sachs. Anglo-Egyptian Sudan and Cyrenaica also have used the Egyptian Pounds between 1899. The term LE is of French descent, more like the French alternative of the Egyptian pound. LE is another symbol that is used to describe the currency. USD/EGP rate equal to 30.901 at (todays range: 30.892 - 30.906). What is The Egyptian Pound The Egyptian pound, designated as E£, is the standard currency used by the Arab Republic of Egypt. If you are looking for Forex pairs with good return, USDEGP can be a profitable investment option. It was about 24.70 to the dollar at the opening of the trading day.Ĭurrency flexibility has been a key demand by the International Monetary Fund, which approved a 46-month, $3 billion financial rescue package in October.Įgypt had been seeking the loan since March, after the economic fallout from the war in Ukraine aggravated a foreign currency shortage, causing a sharp slowdown in imports and a backlog of goods in ports. The Egyptian Pound is symbolised by the E sign and is identified as EGP. At we predict future values with technical analysis for wide selection of Forex currency pairs like USD/EGP. CAIRO, Jan 4 (Reuters) - The Egyptian pound weakened to 26.49 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5% on Oct.
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