The branches of Al-Ahly Change, Misr Change, and Cairo Change, firms affiliated with the three largest authorities banks, reaped the equal of about LE 2.1 billion inside 9 days, after the Central Financial institution of Egypt’s selections, from the proceeds of overseas foreign money concessions.
The chairman of Al-Ahly Change firm of the Nationwide Financial institution of Egypt, Abdel Meguid Mohie al-Din revealed that the proceeds of concessions on overseas and Arab currencies in favor of the Egyptian pound amounted to LE 1.171 billion, since CBE’s current selections.
Mohie a-Din stated that Thursday’s proceeds amounted to LE238 million, explaining that 65 % of the full proceeds had been a waiver of the US greenback.
Different currencies got here in second place, such because the Saudi riyal, the UAE dirham, and the euro, whereas the remaining had been in smaller currencies, he added, noting that the full proceeds on Friday had been LE 190 million.
There’s a sturdy want on the a part of the general public to surrender overseas and Arab currencies in favor of the pound, he famous, as a result of there’s one acceptable value by way of which it may be handled.
Thus it really works to stabilize the foreign money trade market and get rid of the parallel market, he defined, including that the worth of the greenback within the Nationwide Financial institution of Egypt is LE 47.80 for buy, and LE 47.90 on the market.
