Egyptian pound hits new lows

  • 12/01/2023

Kuwait City, Jan 11: The price of the dollar in Egypt continued to rise at large rates against the pound in the recorded transactions since the beginning of the day, to record the highest level ever, with which the price of one dollar reached 32 pounds, driven by the scarcity of the dollar in Egyptian banks.

Locally, the purchasing value of the Egyptian pound in the official exchange market in Kuwait recorded a sharp decline, amounting to 1,350 fils since the beginning of trading today, for every thousand pounds, after the price of one thousand pounds decreased from 11,250 dinars announced by exchange companies, passing through 10.5, and not reaching 9.9 dinars. The rate of decline of the Egyptian pound against the dinar reached 12 percent at once, so that the price of the dinar exceeded 100 pounds.

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