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The average price of the euro against the Egyptian pound stabilized today, Sunday, May 16, 2021, in limited dealings with some exchange companies.
The average price of the European euro at the Central Bank of Egypt was about 19.01 pounds for purchase and 19.14 pounds for sale.
And banks operating in Egypt, an official holiday on the occasion of Eid Al-Fitr, for a period of 5 days, which ends on Sunday.
According to the “Al-Ain News” survey, on the prices of the euro in 23 banks, the average price of the euro was 18.93 pounds for purchase, and 19.12 pounds for sale.
The highest price for the euro
The highest price for buying the euro against the pound came at 18.98 pounds for purchase, and 19.14 pounds for sale, in Blom Bank Egypt.
While the lowest price to buy the euro in Abu Dhabi Islamic Bank, at 18.80 pounds for purchase, and 18.98 pounds for sale.
The price of the euro in the National Bank of Egypt (the largest government bank) was recorded at 18.92 pounds for purchase, and 19.12 pounds for sale.
The data of the Egyptian Central Agency for Public Mobilization and Statistics showed that consumer price inflation in cities fell to 4.1 percent on an annual basis in April from 4.5 percent in March, which is much less than the target announced by the Central Bank recently.
On a monthly basis, however, price inflation in April rose to 0.9 percent, compared with 0.6 percent in March.
Capital Economics said in a note, “We see that the rate of inflation will rise over the coming months, which will push policymakers to keep interest rates unchanged until later in the year, but in the event that inflation continues to record rates below expectations, the Central Bank of Egypt may cut interest at some time.” Closer than we currently expect. ”
It expected the value of the Egyptian pound to decline, which would raise the prices of imported goods.
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